Archived IMT (2009.06.29)

Stocks push higher in vacuum of econ data, but will S&P500 succeed in breaking above the 930, representing the right shoulder of the H&S pattern. CAD is the weakest performing currency against top-traded 11 currencies, thus, highlighting CAD losses despite strong oil prices $71.90s. Aussie follows as the next weakest currency, underperforming NZD and EUR. Considering CAD's positioning, any retreat in stocks off their highs may boost USDCAD regain 1.1610.