Courtesy of Doug Short
Technical analyst Chris Kimble starts off our day with an update on the Dollar.
Chris comments: This morning the U.S. Dollar is breaking below several key support lines. If history is any guide, it should create relative strength and performance in the Commodities and International stock arena.
Footnote from dshort: After reading Chris’s remark about commodities, I created a quick Stockcharts.com overlay of the Dollar and West Texas Crude. The inverse correlation over the past few years is rather clear. If that pattern continues, a falling Dollar could indeed translate into more pain at the pump, something I’ve been tracking at least weekly here.
For the most up-to-date Kimble analysis, check out Chris’s blog: Kimble Charting Solutions.
