The Miners were up big today!
The Miners gained over 7% on the day.
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.