SPX Stuck In Range As The Big Short Builds

Comeback kid

The dollar is dead, long live the dollar. Consensus remains bearish on the USD, yet the DXY is breaking above the key 100 level as we write. We outlined our bullish dollar logic a few weeks ago when the negative trend line was taken out. A close here would break the range in place since May, and the vacuum above that range could get violent. Latest note on the dollar and the euro here.