S&P 500 Closes at Record High with Reversal Risky Candle, COVID Top Theme

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S&P 500, VIX, EURUSD and USDCNH Talking Points:

• The S&P 500, a troubled risk leader, managed to close at a record high this past week; but it did so with what is often a reversal candle on the weekly
• A record high number of coronavirus cases in the US bodes poorly for growth which is likely why Donald Trump stated his administration would not shut the economy
• Event risk ahead can speak to growth as with USDCNH, but unpredictable systemic themes are likely the most potent charges ahead

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