At a glance, the two charts look the same. As in one is going up and the other is going down, Ben and the boys have been propping the dollar. Concerns about the pace of a recovery have dogged the market's eight-month rally but with the nation's unemployment rate now above 10 percent for the first time in 26 years and new worries about housing, the government also will revise its early estimate that said the economy grew.So what is the connection with rise in the dollar and drop in the market (spy), the stronger dollar can hurt commodities prices and sales of U.S. exporters, whose goods become more expensive overseas when the dollar rises.
Will the dollar start to climb and put the spy out of commission for awhile? Amazing!! There was no good Eco-news this week to say the least about and the market ran with it to the downside. Can the govt continue to use these tacky tacky to prop the dollar. If you have ever gone down to the 1 min charts, it is bots wars.
On that note: Volume will be light again next week because of Thanksgiving. Even with the holiday, the week brings a flurry of reports on home sales, unemployment, consumer confidence and demand for big-ticket manufactured goods.
Ding, Ding round $64 thousand dollar question.
Today's Completed Orders
| Action | Qty | |||
| SPYXN SELL TO CLOSE | 20 | |||
| SPYXN BOUGHT TO OPEN | 20 |
