Forex Update S&P Futures Stare Down 2009 Highs and 95

The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.