The US$ has unhooked from the EURUSD trade and the US $ strengthened into Fridays close. I am mentioning this as the last time we had the S&P500 go up and the dollar strengthen, was when we get small corrections to the US markets. This is not a rule, just a tendency.
S&P 500 day trading course looking at 1121.50 for a 50% retracement from previous major swing. If it closes above 1074.25 we could see the break out to these targets.
Day trading course, we are looking for a re test of the previous high around 1073.75 to 75.50. If we can’t push through the resistance we might consolidate here. If we loose commitment on the move up and have made the test on the highs we could have a double top in and would be looking for this to turn and retrace to support under the 987 area.
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