Good Morning,

Lots of charts and inter-market relationships. But first,  a weekly fundamental wrap up and the fundamental preview for next week.

This week we had a better than expected retail sales and a worse then expected weekly claims. Manufacturing indexes were mixed and earnings were, well, mixed. Next week brings a slew of Central Banks talking:

**FOMC

**BOC

**ECB's Draghi

**BOE

Additionally, we have durable goods, claims and advance GDP. Looking even further ahead, we have a monster data week beginning the 29th with unemployment wrapping it up. So you throw in earnings reports and I am guessing that the SPX will finally break out of this 2 month long, very tight range (although not so tight if you are a trader (and an options trader at that)):

My feeling is if earnings come in week and economic data comes in weak, the support line should be broken and we have a reasonable shot at seeing 1400. But then again, it is the age of QE to infinity and beyond!!!......

And here are the inter-market relationships (and you can see my post earlier this week for the "if SPX rolls over at resistance, will the USD strengthen commentary"):

A double fall line trade n the GBP/USD as it came close to the trendline. Again, line up lows in the USD and highs in the SPY. Next up, the EUR/USD:

That looks to be a double top? We will find out! And finally, the AUD/USD, so weak, then it tried to strengthen, but again, Fibonacci's help to guide to overbought/oversold areas:

Past performance is not indicative of future results

All of this topping action in currencies paired against the USD correlates with the SPX topping out!

See you next week for the IBFX Webinar on Swing Trading!

Happy Trading and Be Environmentally Cool

Coach Brian

Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.