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hardnox
Advisor

DX 100

Dollar index nosed to with a couple pips of 100 and backed away a bit.

 

I've got no reason to think there's anything special there but it is highly overbought and it's a big round number.

 

Wouldn't short it here but wouldn't blame anybody who's been long to take some profit either.

 

My "better" count is to about 102 but that's nothing but semi-informed guesswork.

 

Other than the fact that it's overbought don't see any change to the fundmental background. Wouldn't be surprised to see some FedHeads and other muckymucks try to talk it down a little, though.

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BA Deere
Honored Advisor

Re: DX 100

As long as Uncle Sam can outrun the Yen, Euro and Pound, I see no reason the grizzly bear won`t be taking chunks out of their hinders first.  You know, we used to talk about "Bernanke taking the punch bowl away", now a different analogy of Janet Yellan watering down the punch bowl...the alcohol floats on top.  So, as long as the Dollar skims off the top, Uncle Sam can still catch a buzz.  🙂

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