Since making a new multi-month low of DXY 91.88, the USD has managed six consecutive days of gains, settling today +0.1% at DXY 94.26. It remains highly notable that King Dollar is a mere 6% from breaking the double top at the massive psy' level of DXY 100.
Despite what some of the dollar doomers continue to proclaim (Mr Schiff included), the USD remains broadly strong, merely trading sideways since spring 2015.
There is a clear double top at the DXY 100 threshold, and it should be obvious that any break above it would bode for much higher levels in the USD.. at least to the 120s.
.. and if we see the 120s.. that would cause all sorts of problems.
Wed' will see the latest EIA report and the US treasury budget (2pm).. although its largely the case that few in the mainstream have any care about govt' spending/revenue data these days.
As for the US equity market...
Despite the current net weekly gains, the current candle remains blue. Equity bears need to hold under the sp'2100 threshold... or it really is too damn close to breaking a new historic high. Equity bears should be seeking monthly close under the 2K threshold, but that is some 4% lower, and in this twisted market.. that may as well be 40%.
Goodnight from London