The Dollar Index Shows Near-Term Technical Signs of Weakness

Below is what we discussed late yesterday. U.S. Dollar Index (DXY) remains on the defensive this morning... MJP 2/16/17 (8:25 AM ET)

One of the reasons that compelled me to reenter a long position in Direxion Daily Gold Miners Bull 3X ETF (NUGT) is the action in the Dollar Index (DXY), which looks like it ended its two-week recovery rally, and if so, will head lower again to revisit important support at 100.00 to 99.20, which, if violated and sustained, will "lock in" a Nov-Feb Top Formation. MJP 2/15/17

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