Wednesday Morning Update

Following up on the dollar comment from my last post yesterday, the dollar index traded back up over 89 to 89.035 and has since fallen to 88.00. As for this morning, it may just stay in the recent range and bounce back to 88.50. An early break of yesterday's low's of 87.83 may, however, signal further weakness. We'll look at it again if that happens.

Stock indexes are higher on follow through from yesterday's large gains. More gains today, and yesterday's in the NQ, will make the charts decidely more neutral between 810ish and 845 in the sp and 1100 and 1132 in the NQ.

Crude has longer term support around 44.60 (overnight low was 44.69) at least for one more day. The way the intra day charts look this morning I would think we can go test that level again (currently 45).

I'm more neutral gold for now around 900. More broadly it looks like a sale at 919 and a buy at 858.

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