Dollar Index Pops while Gold, Crude Oil, Euro and Mini Russell Drops

800am est

– The dollar index gives us reason to be concerned early this morning

o Average true range is the lowest its been all week
o We’re trading at the lows of the trading range from yesterday (outside day, could turn inside)
o Very narrow trading range, and a downtrend to work with.

830am est

– Crude oil futures are at the highs of the wedge, in the middle of the sideways range, and at the highs of the channel.

– Im looking to sell these of the wedge, with a final target of 81.00 or the bottom of the wedge.

– This market is sideways, so I can buy the lows and sell the highs at any price level I see fit.

1000am est

– The dollar index has very narrow trading ranges, and is back and forth inside the range from yesterday, so this tells us to expect similar moves on other markets.

– We open our euro chart and we see a narrow wedge pattern and considering where the DOLLAR is today, we should focus on buying the lows and selling the highs

– Looking for breakouts on the euro will be higher risk simply b/c of the dollar.

– We need to make our money inside the trading range of the euro.

1030am est

– Natural gas news is out
– We see dollar speed increase on the Pace of Tape Indicator
– Gold at the highs, looking for a short
– Crude oil is at the lows, looking for a breakout short
– Russell and Euro are also setting up for much of the same

1100am est

– The markets are moving FAST

– ATR is rising, the dollar is rising, and we are looking good for a short entry on anything that’s moving right now.

– Gold short, crude oil short, euro short, all dropping for us now.