Play of the Day: S&P 500 Index (US500) Trend Pullback Levels

It looks like the U.S. dollar is pausing from its intraweek gains!

In case you missed it, U.S. equities benchmarks like the Dow and the S&P 500 dropped for a third consecutive day yesterday while the tech-focused Nasdaq Composite index dipped for a second consecutive day. This comes as some traders took profits from the previous week’s interest rate cut bets and AI-related optimism.

Meanwhile, the U.S. dollar gained some ground after the FOMC event and the latest U.S. data releases underscored the Fed’s having relatively less urgency to reduce its interest rates.

Will this week’s market themes encourage further upswings for the S&P 500 index?