Dollar Struggles

The weakening dollar continues to weigh on equities.  The FOMC has its work cut out for it as investors are increasingly having a hard time believing that a rate hike is on the way.

After three weeks of avoiding its SMA200 like the plague, USDJPY broke down through it last night and is headed for our next lower target.  This has left ES on the brink of a channel line of support.

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