The S&P500 turned lower last session and there are lots of reasons being offered for this move from Apple and Amazon Earning results, rising US Unemployment and end of month profit taking. I’d like to offer another reason and this is the turn being due to resistance from the major 61,8% Fibonacci region. The next couple of weeks will be critical to see whether US stocks continue or cave from this major psychological level.

NB: this weekend updates will be brief as I have ATAA trading meeting and family commitments over the weekend.

Data: Watch today for US Manufacturing PMI data.

Earnings: a bit of a quiet end to the week:

DXY daily: lower again so watch for any push to 98 S/R:

Trend line breakouts:

S&P500 4hr: a bit of weakness and a TL break but not much ADX play here yet. Watch for any push to the previously broken 11-yr TL:

EUR/USD 4hr: this TL b/o has given 100 pips BUT watch 1.10 for any new make or break:

GBP/JPY 4hr: this new TL b/o has given 170 pips BUT watch 135 and, then, 136 for any new make or break:

GBP/USD 4hr: this TL b/o has given 250 pips BUT watch the daily 200 EMA for any new make or break:

AUD/USD 4hr: this TL b/o has paused at 150 pips BUT watch the support TL for any new make or break:

AUD/JPY 4hr: this TL b/o has paused at 110 pips under 70 S/R BUT watch the support TL for any new make or break:

ASX-200 4hr: watch the support TL for any new make or break:

Gold 4hr: watch for any revised Flag b/o: