The us dollar index is threatening to break the long-term trendline that has supported price action since the bottom on May, 2014. Except for a few brief instances this trendline has served as life support for the entire rally, and a meaningful break of this trendline would have significant implications for commodities and currencies. Oil and the Canadian ...
This mornings rally continues the subtle strength shown by the market yesterday when the S&P broke above the downward sloping trendline that has served as overhead resistance since the beginning of the year. We will now get a retest of support near the lows, and will be watching for internals and volume to confirm this as a legitimate short-term bottom.
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