Interim Backoff in the Dollar
The dollar rally that started in late August is very early in its life. The back-off over the past four days is healthy for it. By the same token the gold mini-rally during this same time period has been very lethargic which is to be expected of a very old and tired move. This is October, a month of change and change will evolve over the next week or two.
Stocks during this period have caught a lot of investors on the sidelines and the first rally off the bottom for the year is over. Now a little digestion is in order, the S&P 500 1135 area remains the support to utilize in strategies.
I will be out for the rest of the week but will post if something unexpected occurs.