Note: The market is closed on Monday, February 20th for President’s Day.
One of the problems for the market is the DXY. We use the Dollar as a correlation for the equities market. If the DXY can’t get under the daily 21 exponential moving average (EMA), we’ll continue to see the selling pressure on the S&P 500.
The HYG is another problem, as it’s lost strength and started breaking down. This is bearish for the equities, and we’ll need to see HYG get back above the moving averages to push for a rally.
Until these problems change, take caution when going long.
In the video above, we’ll cover the charts and get ready for the week ahead. We’ll also review the new call credit spread we opened on the SPX in the Compounding Growth Mastery.
Stay Focused!
