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  • monthly $SPX chart downright disgusting, little over one day left for candle completion. This is an area to be careful with LT techs. So much fundamental fuel behind this + a March FOMC rate decision. Some type of emergency move (or warning of such) looking more and more likely https://t.co/OPEAj7Zyp6
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Forex: Dollar Versus S&P 500 Next Week with FOMC on Tap

Forex: Dollar Versus S&P 500 Next Week with FOMC on Tap

2013-10-26 00:34:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

• The FOMC rate decision Wednesday tops a long list of event risk this coming week

• A record close for the S&P 500 and weak positioning for the dollar suggest a risk focus

• Still absent from the markets is conviction, which may signal a dangerous and untapped fear bias

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US employment figures left an impression of building risk trends to support equities and weigh the dollar. Yet, where was the momentum that reflects that optimism? There is a fog of uncertainty for growth and financial stability mixed with dangerous exposure in the speculative ranks. Abandoning all concern could accelerate a dollar collapse (best suited for USDJPY and AUDUSD), but the sensitivity to deleveraging is a risk far too real(opportunities for GBPUSD, EURUSD and others). Another countdown has started to a possible decisive catalyst for financial market trends: the FOMC rate decision on Wednesday. We discuss the event risk and trade options for the coming week in the Weekend Trading Video.

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