After a quick look at the dollar chart, isn't it obvious that the weakening dollar is fueling this rally? The dollar topped exactly a month ago Aug 20-30, when the market was bottoming. Since then the 2 charts are exact mirrors of each other... Whatever we measure in dollars is inversely related to the strength of the dollar, including stocks...
What a boring day. Maybe we can finish up a little if we push soon. And a big up day tomorrow for T-day. Think ill call it a day with an order in to take profits on my long at +4
Technical issues since thursday. missed out on some easy easy upside money on Friday Going long here at 1142.75 Will close at 1150ish.
I guess the US/Euro would do it. The Euro has been acting exactly the same as the market. Or if ETFs, UUP (dollar bullish fund)has inverse, UDN (dollar bearish fund) converse relationship with the market.... But the same with crude oil, also measured in dollars, price bottomed the same time, when the dollar was the strongest and as the dollar lost its strength, CL kept climbing (73-79). Of course this straight forward relationship is obvious only if nothing else changes, like politics, inventory, accidents,etc... And of course gold too...1210 >>>1290
made me wait too long for my wages today, but never mind...I still LOVE the ES! Out here for +4 Limit in to buy again at 1140