Ugh..... Ya.. too lazy to show a chart... besides my sentiment and the last resort trade.... I have nothing.
and a constant rain dance for a top doesn't help you. At one point I have no credibility.(when was that May?)
the dollar has been range bound for 2 months, and may be getting stronger.
there was some interesting sentiment I was reading where they were saying the dollar was getting killed, santelli repeats the same MEME ...From what I've seen it's roughly Stagnant, has had a small downtrend in the past 2 weeks, but still trading "Inside a range"... my point is the dollar is unremarkable.
if you ask me why... I'd guess there are more buyers than sellers, they are just buying it, that and covering.
There is what looks like a new swing or soon to be a new swing in the dollar. a... getting stronger swing. as I type its 1.415 to the euro.
It wouldn't surprise me to retest the breakout point, and for us to still move up. This was a very strong Breakout.
Lots of Zero Hedge talk...... maybe the top indicator is him to capitulate...
4 comments:
Sounding blue, bud. Tough day, no question. T.Lo's correlation heat map is all one color and she has the same question you have about the dollar.
Not sure if there's a "play" there.
But I do know PNC looks fugly and everything else is overbought. And the TLT h/s bottom is still intact.
It just started to drizzle here as I typed. Could that be some kind of rain dance indicator?
well the dollar trade is about to retrace a bit.
ya... Too many miles and not enough oats in this horse's diet.
Maybe you need to throw the yard clippings away and get yourself a nice ribeye with a pint of Guiness. That always makes me feel better.
(Don't start dancing about the dollar now, I have too much UUP to risk any jinx. lol)
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