Tuesday, July 26, 2011


The dollar is approaching important lows

S&P 500 looking toppy but hasn't rolled over. U.S. dollar rapidly approaching lows.

The U.S. dollar is falling near its 2008 low. Falling below 70.00 on the chart could precipitate a dollar crisis and you would see a bond and stock market sell off and a huge run up in commodities. I will keep an eye on the dollar and I imagine this will hit the MSM if we take out the May 4th low of 73.25. This might not pan out but it is worth watching.

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