Today on the 60 min Shooting star candle stick to a trendline break, was a nice trade today. But there is support below, notice the black trendline, this has held. It is also important to note that the SPX did close below its 60 min 50EMA, it just barely closed below it. MACD also turned down today.
On a daily chart, not to much was done. The bears did hold resistance, but the bulls have their trusty trendline below and this has been a place of bull support. Yes we formed a shooting star but it isn't after a nice uptrend. Its a very weak candle then.
XLF- may have started to break down. It broke through it's recent 5 day trendline. But notice the key support levels it may reach, it will take some strong selling to get through this support.
To the dollar, which is starting to turn into nickles. The move down in the dollar may be over soon. It looks to have completed a AB=CD pattern, from its high. It could end around 81.30-80.00
