According to my charts, the Dollar has broken significant support here. Usually, that means that the equity markets will continue upwards, but I'll tell you this; I have been trading for 25 years...and you don't want the markets to continue upwards, without a break. It is unhealthy.
Speaking of unhealthy...today's volume was not befitting a market up 214 points. This morning, I wrote what Art Cashen said about lack of volume in this move (before the market opened.)
So I have a serious contradiction here. Technically, the Dollar is going lower which means the markets should continue up (unless that relationship takes a pause.) BUT, we also have a low volume rise in a bear market. It's like a rubber band being stretched. We could go higher...but I would be taking half profits on your positions.
I am not trading until I can figure out a trend. Big numbers are coming out here, and in Europe all week. Stay tuned.
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