At this point, the SP500 continues to be a “sell the rally” type of situation: Trading Forecast Forex
initially rallied during the week, and at one point looked like it was going to really start to take off. However, as the jobs number came out on Friday, we really started to see a lot of selling pressure now that it’s obvious the Federal Reserve is going to have to raise interest rates by at least 75 basis points.
The inflation numbers will be in focus this coming week, and if the CPI numbers are hotter than anticipated, that will only pile on to the negativity. At this point, the S&P 500 continues to be a “sell the rally” type of situation.tried to rally during the beginning part of the week but found the parity level as far too important to get above. The parity level has been important a couple of times in the past, so it is no surprise that we have pulled back from there.
At this point, the US dollar continues to strengthen, and we are essentially stuck in this pattern of fading rallies going forward.markets have had a positive week to break back above the crucial $1680 level. Having said that, the market then pulled back from the very first signs of resistance near the $1720 level, especially now that the US dollar has found renewed strength.
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