The Trend Is Your Friend - Stocks Weak On Dollar Bounce
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Stocks are weaker today due to the rare strength in the US dollar versus a host of other world currencies. After taking a break from the recent trend yesterday, stocks resumed this pattern of trading inverse versus the dollar. Dollar Weak = Stocks Strong - or - Dollar Strong = Stocks Weak.
At 10AM the Dow as down 141 points, the Nasdaq was down 41 and the S&P 500.
The Euro fell 0.74% versus the dollar, the Yen fell 0.64% versus the dollar and Pound fell 0.82% versus the dollar.
Commodities, including Gold (NYSE: GLD) and Oil (NYSE: USO), are also lower on the dollar strength.
At 10AM the Dow as down 141 points, the Nasdaq was down 41 and the S&P 500.
The Euro fell 0.74% versus the dollar, the Yen fell 0.64% versus the dollar and Pound fell 0.82% versus the dollar.
Commodities, including Gold (NYSE: GLD) and Oil (NYSE: USO), are also lower on the dollar strength.
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