A Strong Dollar Speaks Louder Than All the Fed's Jawboning Combined

Against a backdrop of a perpetual "race to the bottom" in the central banking currency wars, the U.S. Dollar has largely held onto its gains from last Friday's gap up on the jobs report. The weekly chart breakout of the greenback is something we have looked at previously. And as long as that technical bull thesis remans intact I do not yet see a reason to expect the implosion of the U.S. Dollar anytime soon. 

In addition, there is always the notion that the Dollar may be performing a de facto tightening in lieu of the Fed's scatterbrained and, at times, non-sensical communications to the public on any given day of the week. On the daily chart for the UUP ETF, below, note the high and tight bull flag consolidation in play, potentially setting up another thrust higher into the holidays. 

With a stronger Dollar, crude oil continues to get hit. But it is impressive to see gold miners green today, despite red metals. I will discus for Members the ramifications of that interesting price action in my usual Midday Video.