Intraday Market Strength Via the $USD

As I suspected Friday (and long before) and wrote about extensively this weekend. currencies have a lot more power right now than you might think.

Something happened with the $USD, that is what appears to be moving the market, I don't know what, but it seems VERY sudden.

or it could be something in the Euro as it spiked up and the USDX moves opposite the Euro as the Euro makes up 50% of the $US dollar Index. The $AUD and Yen moved as well, but I don't think they sparked it, it seems they are drafting through correlation.

So, not sure what moved them, but it supported the market.

SPY arbitrage is negative so it seems smart money does want the market to pullback so they can accumulate.


There are intraday negatives in the SPY, QQQ and DIA so I expect they will back off soon and continue on the pullback course.