Well, today the expected reversal in USD is firming up as the big down day on Monday gets some follow through.
There is nothing much to add to all of the bounce candidates we have been talking about in energy, uranium, commodities and yes, the precious metals. Also, the stock market is getting a direct helping hand from the dollar’s reversal.
We will track the nature of things daily if needed, and on the weekends of course. Just remember the difference between bounce and bull. Frankly, I have a few endorphins feeling pretty good right now and that is exactly the reason I am going to keep my thinking cap screwed on really tight!
We will stop labeling this as a “bounce” or counter trend rally only when the technicals and macro fundamentals indicate as much.