The S&P held the previous low from last Thursday, right in front of a 20% correction. The Nasdaq also held the 50% Fibonacci Retracement Level from the pandemic lows, to the all time highs.
Check out our Daily Morning Express Research for Support & Resistance Levels!
Crude Oil hit the .618 Fibonacci Retracement and responded fiercely to the upside, currently trading near $108.
The biggest story of the day is a potential Head & Shoulders pattern in the US Dollar. We see a bottoming inverse Head & Shoulders in the Japanese Yen, the 10yr Note Futures and Gold. Speaking of Gold, it held recent lows well, and is responding to the upside, bringing Copper and Silver with it.
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