As i type this the market is down 1.57% of 18 handles. Quiet a day if you ask me considering we have been selling for the past two weeks or so since 1124's seemed to be the upside line in the sand.
sand is gonna be 1777.50 on the downside Upside 1185 is the surprise, though i am not sure if the formation we are in right now is going to hold or not.
The US dollar is up over 1.5%, as you remember we have been saying do not bet on the dollar demise. If the dollar was dead it would not be bouncing violently like this with gold moving up along with it. There is clearly something going on behind the scenes the greater market does not see. US dollar futures are now spiking up to almost 79.70, if it breaks 80 we are gonna see mo mo buying coming into dollars and massive selling in equities and gold a like.
Mind your Ps & Q's because this market is different.