[Video] The Dollar Breaks Lower (and Metals Like It)

With US inflation out of the way, traders were willing to try new ranges. And this saw the USD break below 92.00 with gold and silver rising on the back of it.

Charts (4)

 


Updates to previous videos:

  • Fortune brands is back below 100 after rallying over 8% since the original video. This could just be part of a minor pullback, and the channel target around 105.50 remains. However, if prices fall back below the small consolidation around 97.50 then it invalidates our bullish bias over the near-term. But, further out, we’d still kook for evidence of a higher low to form above the 93.40 breakout level, for future opportunities.
  • The DAX retraced from its highs but continues hold above its gap support level (15,110). A break below this level suggests a counter-trend phase has begun, whilst a break above 15,312 assumes bullish continuation on the daily chart.

S&P 500 Market Internals:


S&P 500: 4141.59 (0.33%), 13 April 2021

  • The S&P 500 closed 0.24% below its 52-week high
  • 223 (44.16%) stocks advanced and 279 (55.25%) declined
  • Utilities (1.22%) was the strongest sector and Financials (-0.92%) was the weakest
  • 5 out of the 11 sectors outperformed the S&P 500
  • 95.05% of stocks closed above their 200-day average
  • 100% of stocks closed above their 50-day average
  • 80% of stocks closed above their 20-day average

Outperformers

  • + 8.6%   -  Tesla Inc  (TSLA.OQ) 
  • + 3.41% -  Danaher Corp  (DHR.N) 
  • + 3.20%  -  West Pharmaceutical Services Inc  (WST.N) 

Underperformers:

  • -5.25%   -  Franklin Resources Inc  (BEN.N) 
  • -4.25%   -  PVH Corp  (PVH.N) 
  • -3.92%   -  Synchrony Financial  (SYF.N) 

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