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.