sp'daily5
UUP, daily
Summary
The drop in the dollar is getting borderline severe.
As for whether we have a clear double top - from the March high, that is going to take some days, if not a few weeks to have clarity.
In any case... King dollar is having a rough day. I'd imagine the FOREX retail amateurs are having a wild day!
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Next support for the sp'500 is the 200dma @ 2065/64.
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VIX update from Mr T.
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time for tea :)
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12.18pm... USD -2.0%... rather severe indeed.
Oil is benefiting... +2.0%... and that is helping some of the energy stocks.
notable strength: RIG +3.3%
... sp'500 testing the 200dma of 2065/64.
If this is a tease to the equity bears before a jobs data hyper-ramp... this is truly cruel.
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12.27pm... sp'2062.... so.. now its case of whether we close above.. or below the 200dma.
Clearly.. a weekly close in the 2100s is now off the menu.
notable weakness, CHK -9.8%.. having lost the $5.00 threshold.... a lot of institutions are likely going to clear the deck on that one.