Yesterday while the US$ index made a new high, equities and gold ended in green. And people have started believing that this time will be different. I hate to be the bearer of bad news. Sorry, no Virginia, there is no decoupling of USD and Equity. Not yet. Every time dollar has risen without having an influence in the ES, the SPX rebalances in the next season. This was one of the reasons I went short last evening before close. Even today US Dollar index climbed higher.
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I will let these three set of charts speak for themselves. I already have sell signals on SPY, Risk and SLW. This market is flat topping to boot. Per my cycle guy @polytrade on Twitter we are due for a pullback, as well. Enjoy and follow the actionable signals. Hat tip to Mcclellan Oscillators, Kitco, and Market Montage respectively.