Not So Fast!
2:46pm EDT: The Dollar got stopped in its tracks today and although nothing is confirmed just yet the following scenario is starting to gain in probability:
If we drop through 78.3 then 77 is almost guaranteed. Of course this would give an additional ‘bullish bias’ to equities as well as commodities – I’m using that term instead of ‘boost’ since any remaining correlations seem to be breaking apart lately.
If we are lucky then this is nothing but a small degree correction which will be followed by more upside. We should know by Thursday at the latest.