Technical Tuesday - August 11, 2020 - Equities
publication date: Aug 11, 2020
The most important thing we would mention here is that the S&P 500 is into our MFU-3 target area of 3360 and a zone where we would expect a pause or maybe a short-term pullback. The Dow Transports have achieved our upside target at 11200, and we would be taking partial profits right here. There is risk of a pullback from this zone. We highlight the U.S. Dollar Index (DXY) on page 9. We believe the dollar has bottomed, and we expect to see it move higher from here.
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