Video: No Follow Through On Equity Breakout, Greece Troubles Continue
• Friday, S&P 500 ended its longest stretch without a record high in years, but where's the follow through?
• Top event risk Tuesday is UK GDP which will carry heavy influence but may be quieted by election focus
• Those looking for Dollar moves should way all impending or existing setups to Wednesday's line items
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The markets have moved towards certain 'resolutions' to start the week, but the progress - or lack-thereof - seems to lack the necessary sway to get prices moving...for now. The big development through the end of last week was the S&P 500's close at a record high after a long stretch of meandering. Come Monday, the bulls were nowhere to be found to back the move with a new flush of bids. Another weekend theme to contend with was the Euro's interest in a Greece resolution. The Eurozone Summit ended without a resolution and this every moving timeline is now moving out into this new week. Despite another broken deadline, Greek default premiums and bond yields would still come off recently inflated levels. Ahead, we have key event risk to generate volatility but there will also be hurdles to generate immediate traction in later-scheduled releases. What should we be looking out for and how should we evaluate opportunities - like Pound setups with UK GDP on deck? We discuss that in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.