Going into the open, nosotros tin locomote come across the parallels betwixt merchandise inwards the U.S. dollar (vs. euro; transcend chart) together with merchandise inwards the ES futures (bottom chart). Note, however, that we're making novel dollar highs early on this morning, simply soundless trying to tally at the Mon highs inwards stocks. As long every bit the USD is rising, taking traders out of the pro-risk bear trade, I'm reluctant to purchase stocks for to a greater extent than than sharp, brief, short-covering rallies. Note, too, that we're heading toward a Fed proclamation tomorrow afternoon, which may atomic number 82 to greater restraint inwards trading than we've seen inwards recent days.
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