EUR/USD moved again overnight and tested the weekly and monthly lows. So far it is still holding above 1.150. This is adding pressure to US Stocks, Commodities and Indexes priced in USD.
Also the data from HK was negative, a considerable number of stocks were halted in Asia. The pressure translated to EU and North America but around 10.30EST a few important ETFs and Indexes turned to the upside hurting the bears again.
Today will be the second day this week that we trade higher after negative pressure.
In the SPX daily chart, we have 5 consecutive lower high and lows after the retracement near Fib 78% touch, (3 in NDX futures). If the market want to trade lower it is giving us the way.
On the other hand, if the market ends this week higher it will create even more pain to the shorts.
