Key points in this video:
1. The S&P 500 is bouncing off the two trendlines it is touching that were discussed in previous daily videos in addition to this video. This suggests a possible reversal and a potential opportunity for short trades or to cover long positions.
2. The US dollar is showing signs of near-term weakness against the yen and euro, and thus also on the FXCM dollar index and the futures dollar index (DXY). We're also seeing some potential weakness on the dollar relative to the Chinese yuan and to gold.
US Dollar Showing Signs of Near-Term Weakness, S&P Bouncing of Key Trendline
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