S&P 500 and USDollar - Same Resistance, Same Driver
While the notional levels are different and the historical relevance, both the Dollar and S&P 500 are staring down the same general 2015 resistance. For the currency, it is the 12-year high set in March/April. For the equity index, it is the record high set in May. Both are within reach. Both have distinct connection go Friday's top event risk: October NFPs. Will the correlation carry through the next big move? Are we looking at a break or reversal waiting to happen?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.