It’s important to review the currencies to see how the capital is flowing. One thing is for sure is the Dollar is soaring against the Japanese Yen. It this some flight to safety for the equity markets moving into November or December.
S&P500 (SPY)
We bounced off 427.4 weekly and 455 area is resistance or the downtrend line. We will need to keep watch into November and December. The capital flows into US dollar may be giving hints of fear.
Dollar Index
Tested the 95 monthly area(green) and holding above the weekly 93 bulls(pink).
