Dollar Getting Smashed, Gold And Silver Higher
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The U.S. Dollar is getting smashed in what looks like a capitulation bottom. Our target has been 94 which is approaching rapidly, as the selling is fast and furious. Commodities are the biggest benefactor of a weak dollar and are higher across the board. Gold, Silver, Oil and Grains are up nicely.
We are in Bizaro world now, equity markets never heard of bad news, Netflix goes up 10% on fair earnings and the pundits are calling this a “New Market”. That’s a croc but look for some heavy activity in all dollar denominated spaces because it looks like the bottom of the dollar is in or near.