Dollar Game Changer

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The Miners were up big today!

gdx

The Miners gained over 7% on the day.

oil

Oil was up big too, gaining over 10% for the day.
And I think that this is attributable to the big drop in the dollar.

$$$

The today’s drop saw the dollar close below the December low. So while the dollar’s daily count is unclear, what is clear is that today’s drop produced a failed daily cycle and possibly a failed intermediate cycle.

And I believe that there are even bigger implications because of the beat down the dollar took today, which I was hinting at that last week. I believe that today was a game changer for the dollar. I am putting the finishing touches on a special report on the Status of the Dollar, that will cover this. It looks like I will be able to post that this weekend, following the Weekend Report.

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