SPX achieved target at 4068 then not written was the reversal from 4068. Overall, SPX was a 50 ish point trade from the very basics. Multiple longs and shorts for the day offered more points.
NASDAQ target achieved at 11943 then the reversals.
Both the S&P’s and NASDAQ traded lower direct to supports at 111 and 109.
WTI target at 114.00’s traded to 113.20 and a miss by 0.8.
Brent’s target at 116.00 traded to 115.52 and a miss by 0.4.
Expected today is a “funny” price day and derived from the USD side to DXY, WTI and stock markets. An example is seen from yesterday’s EUR/USD. Yesterday’s USD side operated normally. “Funny” will derive from SPX and WTI as drivers.
SPX vs Nasdaq
SPX targets 4105 and NASDAQ 12040. On the low side, SPX targets 4034 and NASDAQ 11703.
WTI vs Brent
WTi targets back to 114.00;s at 114.35 and Brent 116.86. On the low side, WTI targets 107 and Brent 110.01.
EUR/USD vs DXY
Today’s USD Vs EUR battle to market excitement is seen from EUR/USD 1.0491 Vs DXY 103.73. EUR/USD trades 16 pips from 91 and DXY 7 pips. DXY could offer easily 104.40’s and EUR/UDD 1.0390’s or EUR/USD trades to 1.0587 and DXY upper 102.00’s. The EUR/USD Vs DXY contention will materialize in the fate of WTI and SPX.