The US$ index remains range-bound in a wedge keeping many Forex pairs choppy and I am still waiting for clearer 4hr chart patterns to emerge on many of the instruments I monitor. The S&P500 remains pegged by 3,400 above and the NASDAQ is still pushing higher.

I tweeted yesterday afternoon to watch for any recovery with the US$ and that looks to be evolving. As such, a time-out is needed whilst I wait for new technical patterns to emerge. Momentum is low and or declining on most charts so keep watch of this metric as well.

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US$ weakness remains the dominant theme and the previously profiled major trend line breakouts, that triggered recently, have all got going again. The GBP/USD Bull Flag pattern seems to have triggered and was one of the better moves on the day. Walmart earning got the S&P500 moving to hit an all-time High so watch today […]

The S&P500 has stalled under the all time high region, near 3,400, and the US$ is a bit weaker. This US$ weakness has helped to trigger some trend line breakouts.