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The dollar is very weak, suggesting that the sell America trade is gaining traction. As an American living in France, with US based income I am acutely aware of this. I’m well hedged for a few years, but the EUR/USD chart looks headed for 1.21 in the short run. If that doesn’t hold, the next target would be 1.40 and batten down the hatches for US markets.
Meanwhile, the stock market remains below its long-term trendline after gapping lower last week, with cycle indicators suggesting a potential correction or lengthy pause ahead.
Here are the support and resistance levels, cycle projections, and indicators to watch to determine the direction of the next big move.
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Precise S&P 500 price targets and timing through 2025-2026
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Full-cycle matrix with short-, intermediate-, and long-term projections
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