Not known for questioning the veracity of official government data, S&P 500 futures are up 5.5 points.
As a result, ES has broken out of its latest minor
falling failing channel and popped back above its SMA10. The purple acceleration channel that dates back to Sep 11 is still alive. I’ll be watching the USD and its reaction to gold, which is about to tag our downside target. The dollar’s rise, and its impact on USDJPY, has been instrumental to stocks’ ongoing rally.
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