Yields remain in focus and are being noted as the reason for the tech rout last session. I listened to a Ryan Detrick podcast yesterday where this very topic was discussed so maybe give this a listen. The US$ remains range-bound but the S&P500 is down near the 12-month support TL so watch this for any new make or break.
Data:
Earnings: some big names report Thursday:
DXY daily: still in the daily Cloud so watch for any breakout:
NASDAQ daily: much being made of the pullback here BUT watch for any potential Bull Flag…..again. However, a deeper pullback would not surprise given the lengthy rally. Note the look of a bearish H&S on the second chart.
Trend line breakouts:
S&P500: back down at the 12-month support TL so watch for any new make or break.
S&P500 4hr: a 55 point move:
S&P500 30 min: note the TL b/o and move below the 30 min Cloud as the US session got underway:
Other markets:
ASX-200 4hr: I’m surprised this is holding up so well!
Gold 4hr: the $1,700 looks to be the important whole-number support level to watch here:
AUD/USD 4hr: revised TL here:
AUD/JPY 4hr: ditto:
