$USD Counter Trend Bounce Has Started

I'm still holding the IWM June 19 $124 puts and glad to be.

$USDX base breakout and so far we have good confirmation. Again, unless there's something "Unreal" in this week's F_O_M_C minutes, this is a counter trend rally meaning it comes back down and resumes the trend making a new lower low. I do find it ironic that it begins the week of the F_O_M_C minutes.


Again internals just don't look right here nor do the charts.

 This is the NYSE TICK, we have an initial uptrend in breadth that never hots any kind of bullish extreme then turns to a lateral, near dead zero trend (about the same number of stocks selling as being bought), this isn't at all what you should be seeing with price behaving the way it is intraday.

Remember the ES/SPX futures 1 min chart and the pre-market positive divergence which led to the warning that the gap down would not hold and we'd see early strength? We;; that same chart is now deeply leading negative.

I do look forward to some short positions, but the standard is the same as it was last week and that's the QQQ/et al. 10 min charts deteriorating.

I've taken a look at some of the assets that are close on the watch list or favorites, take transports for example. They are moving the right direction, they have the right negative divergence in to that move, but they are not there yet. I'm wondering if we may have been right on last week when saying we'd see a more l;lateral vacillation as the reversal process unfolds? It may not seem like that right now, but the first two days or day and a quarter of last week were vastly different than the rest of the week.