Whilst equities continue to see moderate weakness (but liable to turn positive this afternoon), there is notable sig' weakness in the USD, -1.0% in the DXY 95.10s (intra low 94.88). First target zone of 93/92s is clearly probable by mid May.
*I will continue to use UUP as a way to highlight USD, since stockcharts don't offer intraday charts on the DXY.
So.... USD weakness continues... 93/92s now look easy to hit. Increasingly... the 90/89 secondary target looks viable in June.
If the USD can floor in June/July..... it would help make for a natural equity.. and Oil cycle top.
*I remain long Oil via USO... I am trying to give it some time to build gains before my next exit.
In any case... at least I'm not long TWTR, -4.5% in the low $40s.
11.07am.. EXITED long-USO... from 20.08.... moderate gain... it'll do.. will look to re-long.. on any pull back.