Strong U.S. Dollar, Weak JPY And CHF, Bullish Equities – Main Themes In March 2021


If there is one market that supports the theory of a higher Dow Jones despite the reversal pattern, that market is the S&P 500 index. It forms an ascending triangle pattern at all-time highs – a bullish pattern with a measured move that points to a minimum of 4,200 in the days/week ahead

The S&P 500 is considered the benchmark for the overall equity market in the United States, and the price action suggests that the horizontal resistance will eventually give way. If that is the case, the minimum distance the market should travel is the length of the triangle’s longest segment projected from the horizontal resistance.

Winners and Losers

In March, the U.S. dollar gained across the board, especially against JPY and CHF. The rise in the U.S. real rates pushed the traditional safe-haven currencies lower, while the dollar benefited from the rise in the yields and confidence. With stocks at the highs, we must include the American stock market indices as one of the top performers in the month.

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Disclaimer: None of the content in this article should be viewed as investment advice or a recommendation to buy or sell. Past performance/statistics may not necessarily reflect future ...

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