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Dollar Faces Key Break and S&P 500 Rides Its Strongest Rally in 2015

Dollar Faces Key Break and S&P 500 Rides Its Strongest Rally in 2015

John Kicklighter, Chief Strategist

Talking Points:

• The collapse in Fed rate hike expectations has drawn the Dollar to major support and driven the SPX higher

• Extending these prevailing trends will depend more and more on other key fundamental themes

• Top event risk in the week ahead includes the G20 meeting, China's 5th Plenum, earnings and inflation data

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The forthcoming week will open to great expectations amongst market participants. This past week ended off on the strongest rally for US equities of 2015 while the US Dollar has dropped to critical support for its long-term bullish trend. The next phase for each benchmark is critical, and they will certainly source their bearings from fundamental winds. A general rebound in risk-directed assets and slide from the Greenback counters well-established trends which speaks to the pent up potential in this correction as well as the level of conviction necessary to truly establish these moves. Top event risk in the week ahead includes discussions of global growth at the G-20 gathering, China's health amid the 5th Plenum, Fed timing through speeches and CPI, and the full swing into the United States' 3Q earnings season. How are these fundamental scenarios positioned for the coming week and where are the trade opportunities lurking? We discuss this in this weekend Trading Video.

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