Dollar Edges Higher, SPX Fails to Mark New Record, Commodities Plunge
• The S&P 500 came close to hitting a record high, but its failure draws greater attention to its struggle
• Commodities shook the financial markets with some indexes hitting a more-than-decade low
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The fundamental scales are tipping. The markets are no longer hanging on every development in Greece or China crossing the headlines. Our motivations may come from a more systemic view. Underlying risk trends continue to shape a concerning map of the markets. While the S&P 500 made a move to post a new record high on the day - it fell just short and notched its drought to 41 trading days - we have a slew of divergent signals for true optimism. Momentum, volume, participation have proven reliable readings as of late; however there are more dramatic cues being seen across asset classes that carry a 'risk-oriented' bearing. While there has been a split in direction and health for various markets, a new one has drawn the market's attention to start the week: commodities. We look at the headlines and more market-influential themes 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.