Alrighty then (DXY 0.5b2rc1 build1386)

Posted wrong chart earlier

Now that the EURO has blasted off against the Wampum.... It's not a foregone conclusion but that 'smaller leg down' is a possibility. I would like to see what 78.50 in the DXY brings first before drawing any short-term conclusions. I think any move down will be short lived unless 'Tanke really eff's up. Its a day-by-day thing now.

[addendum] Although some of the commodity related names sure act like they want to release upward for a blow-off top. But a blow-off top can last for days or a couple weeks. Who really knows. Probably until oil reaches Goldman's price target and all the banks can dump that oil back on the market for a few billion in profit. Hmm...I'm supposed to be taking a break.

[addendum] Wonder how much profit the banks made in the recent moves in the long bond? You don't think they were not positioned accordingly do you (in FX as well)? Guaranteed you're being sold into across all assets during this synchronized release of "news". The unwind might take a while.