Watching the Dollar

We mentioned the uproar the President created when he said the dollar looked too strong and the comments likely accelerated the pullback below the 50-day moving average and fresh support at $100.50-$100. A weaker dollar or stronger dollar will debated about how it should or shouldn't effect the market but the trend still looks higher. All of the major moving averages are in a bullish uptrend and a move back above $101.50-$102 will get another run at $103-$104 back in the mix.