The all-time high on the S&P 500 is just 15 points away. Whether we see a significant break above that level in Q1 of next year…or a “double-top”…is likely going to be very important for how the entire year playouts out.
The DXY dollar index has become quite oversold on a short-term basis, so it should be due for a bounce soon. However, on a longer-term basis, the summer lows will be an extremely important support level to watch next year. Any meaningful break below that level (just below 100) will have very important implications for many different asset classes.
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