Video The Dollar Breaks Lower and Metals Like It

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Updates to previous videos:

  • Fortune brands is back below 100 after rallying over 8% since the original video. This could just be part of a minor pullback, and the channel target around 105.50 remains. However, if prices fall back below the small consolidation around 97.50 then it invalidates our bullish bias over the near-term. But, further out, we’d still kook for evidence of a higher low to form above the 93.40 breakout level, for future opportunities.
  • The DAX retraced from its highs but continues hold above its gap support level (15,110). A break below this level suggests a counter-trend phase has begun, whilst a break above 15,312 assumes bullish continuation on the daily chart.

S&P 500 Market Internals:


S&P 500: 4141.59 (0.33%), 13 April 2021

  • The S&P 500 closed 0.24% below its 52-week high
  • 223 (44.16%) stocks advanced and 279 (55.25%) declined
  • Utilities (1.22%) was the strongest sector and Financials (-0.92%) was the weakest
  • 5 out of the 11 sectors outperformed the S&P 500
  • 95.05% of stocks closed above their 200-day average
  • 100% of stocks closed above their 50-day average
  • 80% of stocks closed above their 20-day average

Outperformers

  • + 8.6%   -  Tesla Inc  (TSLA.OQ) 
  • + 3.41% -  Danaher Corp  (DHR.N) 
  • + 3.20%  -  West Pharmaceutical Services Inc  (WST.N) 

Underperformers:

  • -5.25%   -  Franklin Resources Inc  (BEN.N) 
  • -4.25%   -  PVH Corp  (PVH.N) 
  • -3.92%   -  Synchrony Financial  (SYF.N) 

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