Victims of the Runaway Dollar

In the face of a runaway U.S. Dollar, still running away higher out of the weekly chart bull flag we looked at two weekends ago in the UUP ETF, most commodities continue to get pounded.

In particular, crude oil, gold, silver, and most soft commodities are essentially out of action for longs, for now. 

Natural gas has also weakened but is not quite as bad, as it has not taken out its February lows or even the lows in recent weeks. 

Still, I have resisted the urge to put on a fresh UGAZ (triple-levered natty) long since trading it for big wins twice in February, as the commodity has essentially been in limbo ever since. 

But if UNG takes out $13.90 to the upside this week there may be something to work with, even if the Dollar continues to build its Tower of Babel way up in the sky.