S&P 500 and US Dollar Will Break, But Will They Move in the Week Before ‘The Week’?

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From dailyfx.com

There was some serious volatility in different corners of the financial system this past week – such as the biggest bearish gap for the Dow Thursday in years – but the benchmarks would not fundamental budge from their course. For the risk-representative S&P 500, the broader trend is bearish; but the past five weeks are more accurately defined as congestion. I’ll note that this is a particularly narrow trading pattern and net speculative futures positioning suggests there is a building bearish concern in futures, but the masses are looking for a clear catalyst before they decide to jump back in or … (full story)