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Weakness in U.S. Dollar Index (DXY) has pressed beneath its prior corrective low at 100.26 (Jan 18) extending the near-term series of lower-lows off of the Jan 3, 2017, multi-year high at 103.82. Let's notice that the angle of decline of the 20-Day EMA is getting steeper, indicating that Dollar downside pressure is intensifying. In addition, DXY is again spending more time beneath important prior resistance at 100.70, and increasingly looks like it is heading for a challenge of the up-sloping 200-Day EMA, now at 98.30.
The stock market indices started the week off with a pop, and then a very sharp drop. By midday, they reached their lows, and then rallied back at the end of the day and finished mixed. Net on the day, the Dow was down 27.40 at 19,799.85, 75 points off the low. The S&P 500 was down 6.11 at 2265.20, 8 points off the low. The Nasdaq 100 was up 2.50 at 5065.70. Advance-declines were 16 to 13 positive on the New York Stock Exchange, and 16 to 11 1/2 negative the Nasdaq. Up/down volume was 3 to 2 negative on New York, total volume of 3 billion shares traded. The Nasdaq traded 1 2/3 b
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