Good Morning Traders!
SPs just missed closing beelo the daily 5 SMA, despite having a high to low day. The SPs have been consolidating sideways now for 6 days after a large standard deviation move on the daily charts. Thhe Russell had a trend day down as well as the first close below the 5 SMA. Daily sell divergences have been correcting and may still need another day or two. For Friday: Buy Day – Buy test below the previous days low. For the Russell 1167-68 is main support (middle of prior range).
Dollar index should continue its trend higher. The monthly charts made new momentum highs and there is no top.
Abbreviated opening play today…TGIF!
Markets in BO Mode