There’s no near-term respite in sight for stocks as a new week begins, with futures tumbling ahead of what many see will be a firm foot by the Fed “on the brake pedal this week.”.

Technical analysts are warning that markets are poised to retest June lows, with 3,640 on the S&P 500.

One result has been a steady push by investors into the dollar, which Citigroup strategists have described as “one of the only places to hide.” While the greenback is looking overvalued and a turning point is inevitable, Citi says either “global growth expectations need to turn or the Fed needs to pivot,” for that to happen.

Our call of the day comes from Julian Emanuel, Evercore ISI’s chief equity and quantitative strategist, who thinks the Fed will drag the dollar lower sooner than many think.

With that, Emanuel expects “the Fed could (and should) guide markets on Wednesday that ‘data dependency’ for the central bank’s Nov.

dollar will “continue to temper its strength.”.

The dollar index is up about 1.3% so far for September, after a blistering 2.6% gain in August.

The Evercore team offers up a list of “Dollar-Down Denominators” — S&P 500.

names that could outperform in case of a dollar pull back, alongside “Buck Backsliders” equities that could underperform amid a weakening dollar.

From the “Denominators” list are export-oriented sectors with more than 70% foreign revenue exposure and high short interest, that have underperformed their peers in 2022.

On the “Backsliders” list are Verizon Communications.

So far for Monday it’s dollar up.

prices are getting hit particularly hard, following the latter’s so-called “merge” last week

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The National Association of Home Builders sentiment index is due after the market open in a week that will see plenty of data on the sector, with existing home sales and housing starts

Apart from the Fed decision on Wednesday, the end of the week will bring PMI data for September

has not just been a “poster child” for stocks hitting new lows on the Nasdaq, “but one of the greatest leading indicators of where the market is going overall,” says Michael Kramer, the founder of Mott Capital Management

The video-conferencing group that surged during the pandemic, made a new low on Friday, and “probably isn’t finished falling either, with the following significant support at $76.45 and then $70,” he said

Bitcoin, the world's largest cryptocurrency, is falling ahead of the Federal Reserve meeting this week and on worries that aggressive moves by the central bank could lead to recession

Barbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column