11am update - strong dollar causing problems

Whilst equities continue to see minor chop in the sp'2130/25 zone, the real action is in commodities. With the USD +1.2% in the DXY 95.30s, metals and Oil are under rather strong downward pressure, Gold -$17, with Oil -3.2%.


GLD, daily

USO, daily

Summary

Gold and Oil are clearly rolling over... and should see at least some degree of further downside across the next few days.
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To be clear though, I do NOT believe the USD has seen a key floor from the March high of DXY 100.71.

UUP ,weekly

It would seem the secondary target of DXY 90/89 looks likely to be hit this summer.. before a key turn... and then the hyper-ramp to the 120s.
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stay tuned!