With the S&P 500 having tumbled some 480 points from its 16 July 2024 record high of 5,667.20 as of Monday, 5 August 2024, it's a good time to consider whether order might be starting to break down within the U.S. stock market.

Bearish yields can send the US Dollar lower from a technical point of view and from an Elliott wave perspective, as we see a positive correlation.