Will The Fed Rate Hike Be Dollar Bullish?

At the start of last week, the S&P 500 had traded at its best level since gapping lower on February 2. However, a potential key reversal (outside down day after making new highs for the move) on Tuesday saw follow-through selling over the next couple of sessions.The market tried in vain to fill a downside gap from the higher opening on March 9. The failure to fill the gap may have encouraged new buying before the weekend. The technical indicators are mixed, but a break of 2735-2740 likely signal a test on 2700, if not 2650.  

The Russell 1000 Value Index lost 1.28% last week (S&P 500 -1.25%), and it is now slightly lower on the year.  The Russell 1000 Growth Index fell 1.45% and is still 6.1% higher since the end of last year.  

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Read more by Marc on his site Marc to Market.

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