The Dow closed the week up +1%, while the S&P finished the week down -0,2%. The week as a whole was mixed. This week will be very special with banks and U.S trading floors closed in observance of the Martin Luther King Jr. Holiday today.
Tomorrow there will be no major reports as the market participants will look for news coming out of Davos Switzerland as the World Economic Forum holds their annual forum throughout the week.
Take a look at the dollar. The dollar Index (DX) has shown some strength in the past. Those levels is not seen since September last year. If the dollar is taking off, it will have a huge impact on commodities and other markets. So, watch out, and pay close attention to the dollar. Will the strength continue?
News today: Bank holiday today. No major reports tomorrow, Wednesday and friday. Only thursday, we will find some interesting reports. Thursday reports will be: Unemployment Claims at 8:30am, Flash Manufacturing PMI at 9:00am, Existing Home Sales at 10:00am, Crude Oil Inventories 11:00am.
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