This morning, the S&P 500 Index e-mini futures (ES-Z2) are trading higher by 6.50 points to 1443.50 per contract. Once again, all is well in bailout nation as the U.S. Dollar Index futures (DX-Z2) are trading lower to start the day. Traders should continue to follow the action in the U.S. Dollar Index as the major stock indexes in the U.S. and around the world trade inverse to the U.S. dollar. Should the U.S. dollar Index start to trade higher the morning bounce could disappear very quickly. Yesterday, the major stock indexes gave up most of their early morning gains as the U.S. Dollar Index caught a small bid.
Some leading equities that will usually trade inverse to the U.S. Dollar Index include Deutsche Bank AG DB Gold Double Long ETN (NYSEARCA:DGP), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), ProShares Ultra DJ-UBS Crude Oil (NYSEARCA:UCO), and the SPDR S&P Metals and Mining ETF (NYSEARCA:XME). This tells us that the stock markets are controlled by inflation creation made by the central bankers around the world. Remember, all eyes must be kept on the U.S. dollar regardless of where you may live.
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All Eyes Must Still Be On The Greenback
Published 10/02/2012, 02:01 PM
Updated 07/09/2023, 06:31 AM
All Eyes Must Still Be On The Greenback
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