Tuesday, July 13, 2010

S&P 500 ~ Intraday Update 13 July 2010

The SPX has reached the downtrendline:

Break or pullback?

Some currencies already broke out. The EUR/USD after trading in the low 1.25's this morning rallied to a new rally high above 1.27. Thus, the move from 1.19 is most likely motive now. The AUD/USD also broke out of the trading range between 0.87-0.88 and it looks like an inverse H&S has formed over the last three weeks.

Many bullish signs here. Let's see if the gains can be hold until the close.