The Plunge in DXY Could Have Important Implications

Although neither the DXY nor the CRB remain in the grasp of powerful 18-month trends, the anecdotal Momentum evidence argues strongly that both dominant trends-- up in DXY, and down in CRB-- are near or at exhaustion.

Today's plunge in DXY certainly has the look of the end of the Aug upleg, and the initiation of a decline to test the dominant up trendline, now in the vicinity of 95.15.

Such a decline in the Dollar should be supportive of a recovery rally in the CRB.