18Oct3:39 pmEST
Shaken and Stirred, Yet Unperturbed
Despite the major indices struggling to really get an explosive rally going today, there was some promising action in quite a few individual stocks. Now we need to see some more muscle behind those moves the rest of the week, with plenty of earnings sprinkled in. Intel and Yahoo are big ones tonight, as ISRG.
But I am also watching to see which commodities remain unperturbed by the U.S. Dollar apparently now bull flagging after a strong run-up. As an example, crude oil is bull flagging in its own right, seen on the USO ETF daily chart, below.
Indeed, there are several other commodities unfazed by the recent Dollar strength. If that theme persists, it could easily catch many out of position and, moreover, extraordinary confused (note that this is when major moves tend to happen across a variety of markets).
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