Today, the U.S. Dollar Index futures (DX Z1) are trading higher by $1.27 to $78.03 per contract. As many of you may know by now, when the U.S. Dollar pops the stock market drops. The U.S. Dollar Index is certainly popping higher this morning. The U.S. Dollar Index futures will have some short term intra-day resistance around the $78.29 level. When and if the U.S. Dollar Index pulls back that is when the major stock market indexes will likely see a bounce off of these morning lows. Should the U.S. Dollar Index continue to climb higher these stock market indexes will likely decline lower. The U.S. Dollar Index moves these markets, while the media will tell you the cause is the news out of Europe and elsewhere. Learn what moves the markets and make money, do not listen to the hype.
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