A Key to Deep Sea Diving in the Commodities Ocean

With promising action in energy, steels, even coals, and many other materials names today, save precious miners, the U.S. Dollar is still likely to be a key piece of the puzzle as to whether the commodities and materials' rally has legs from current levels.

On the updated UUP, ETF for the Dollar, daily chart, below, note how the greenback came back down to that $26 breakout level we observed last week and yesterday. 

If Dollar bulls fail to defend then I would consider it a minor failed breakout, potentially leading a rally in both materials miners and the Euro. 

More in my video market recap after the bell. See you there.