While the action of the indices has been a bit dismal the breadth was not that bad. Many small cap stocks actually managed to rally.
The dollar is sitting solidly on support and many commodity sectors appear to be losing momentum while making higher prices. Most noticeably is the oil sector but the metal as well.
Interest rates are at a very important juncture retesting recent highs. Not much to predict which way they will move but perhaps a dollar rally will lead or be caused by a move in yields. I would much rather play that game via the currency than the interest rates at this point.
No positions in anything mentioned.
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