The major banks kick off third-quarter earnings season this morning, giving investors their first important look at corporate results. With the S&P 500 approaching resistance, the market’s response may prove more revealing than the earnings numbers themselves.
Meanwhile, the Dollar is encountering resistance late in its Daily Cycle. A Daily Cycle decline could provide some relief for Gold and Bitcoin, both of which are showing signs of recovery. However, a Dollar pullback would not necessarily change its longer-term bullish cycle structure.
The focus remains on price behavior. Earnings may provide the catalyst, but the subsequent market reaction will determine whether existing cycle expectations are reinforced or challenged.
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