
DOLLAR RISE ON TAIWAN AND FED DAMPENS BUT TAX DEAL BOOSTS ANIMAL SPIRITS IN THE STOCK MARKET
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Dollar Rises
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows the stock market is consolidating in the resistance zone.
- The chart shows that in the early trade today, the stock market is experiencing a pullback on higher dollar and rising yields.
- The dollar is rising for two reasons:
- The pro-independence party won the election in Taiwan. So far, the weather in the Taiwan Strait is bad and precludes any military action.