Oh no, gold is up, DX down, Euro up. Well, I’m digging in my heels on DX and Euro. I still think DX is close to forming a higher low, and Euro a lower high. Here is the intraday chart of Euro. Yes, it spiked up this morning but is starting to slip. Sure, it is fair to see some evidence of reversal before getting seriously committed. A drop under 1.0977 is an early warning.
Moving back to the S&P 500, SPX came through with the new high today as mentioned in my post last night but was short of the next target zone at 4142. While I can’t yet rule out an eventual attempt to test that target while 4088 or 4066 holds, I think it wise to give bears some room to see what they can do.