Still unsure about the current market. Is this another round of consolidation before another move against the dollar or is the market ready to turn over and give the dollar a few weeks of strength? The DOW remains below 10725, as we mentioned previously, that level represents the left shoulder of a head and shoulders formation, a break above and a subsequent close could mean further risk appetite. We're still looking for dollar strength on the back of risk aversion, but at this time, we need to see negative news from across the pond. We still have a lot of economic data to be released this week and will continue to follow momentum against the buck with a cautious stance towards a reversal.
Wednesday, May 22, 2013 As of 12:08 AM EDT
U.S. EDITION
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