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Pound, Yen breaking down vs USD, resulting in FTSE surge to test All-time Highs

Meaningful developments overnight, as US Dollar has broken out of its downtrend vs YEN (thus far) while FTSE within striking distance of new all-time highs as the GBPUSD pulls back to the lowest levels since the mid-80s-  EURUSD has not yet broken down, but below 1.11 would cause Dollar index to jump above 96.70 to test July highs at 97.56, and cause some likely weakness in Commodities-  European shares jumping today with FTSE now up 10% since pre-BREXIT fears, and SXXP up to multi-day highs.  Given recent US technical strength in Industrials and Energy breaking out with Transports moving back to multi-day highs, this "should" also be beneficial to US stocks and expect some near-term strength to breakout above 2169 which could help prices lift between now and Yom Kippur into next Wed/Thurs-  For those with Precious metals exposure, watch carefully if Gold breaks 1300 which would cause some technical selling-  For now, given S&P remains range-bound between 2133 - 2169, its important to watch the movement in the US DOllar and TNX.. and for this am, Dollar strength is the development to concentrate on..Traders can look to sell early strength at 2162, then 2169-71, and buy any dips at 2145-7 area-  Pre-mkt movers: P, DRI, AQXP, OLLI on upside, while NTNX, SPLK lower-  Let me know if you have any questions

 

UKX BELOW-  Within Striking distance now of all-time high territory as GBPUSD has broken down again