Just an FYI companion to the general market relief bounce theme.
USD is is the counter-party to bearish markets and is still at the long-term resistance zone. Doesn’t need to stop there but it sure could if SPX and others are to experience relief, perhaps on Wed. CPI.
That of course would need to be a ‘sell the news’ thing for the dollar, as it would be inflation-negative, which Uncle Buck has been working at since last year. USD has been buying the news of the inflation as an ongoing divergence, so it could sell the news of inflationary weakening as well.
It’s important to know that I am just throwing out options and possibilities based on indicators and gut.