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Video Copper and Silver Diverge DXY May Have Printed Its Corrective Low

In today’s video we look at potential swing trades on the US dollar index (DXY) and silver, then highlight two bullish targets on copper futures.

Matt Simpson
Matt Simpson

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[Video] Copper and Silver Diverge, DXY May Have Printed Its Corrective Low

S&P 500: Market Internals



S&P 500: 4458.58 (-0.77%), 10 September 2021

  • Energy (-0.043%) was the strongest sector and Utilities (-1.38%) was the weakest
  • 11 out of the 11 sectors traded lower on the S&P 500
  • 132 (26.14%) stocks advanced and 372 (73.66%) declined
  • 71.88% of stocks closed above their 200-day average
  • 53.07% of stocks closed above their 50-day average
  • 34.65% of stocks closed above their 20-day average


Outperformers:

  • + 2.91%   -  Nov Inc  (NOV.N) 
  • + 2.25%   -  United Parcel Service Inc  (UPS.N) 
  • + 2.21%   -  General Motors Co  (GM.N) 

Underperformers:

  • -7.50%   -  Kroger Co  (KR.N) 
  • -6.19%   -  American Airlines Group Inc  (AAL.OQ) 
  • -4.91%   -  Penn National Gaming Inc  (PENN.OQ) 

 

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S&P 500 forecast: Stocks extend drop as correction risks grow

US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.

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