Dollar index here, with my annotations of readings in the Daily Sentiment Index (trade-futures.com) at extremes and turning points:
Dollar chart from Stockcharts.com
Clusters of low-mid single digit readings are very rare and very bullish. You all know what it means for stocks when the dollar makes a big break upwards.
For good measure, here’s the 3-year chart of the S&P versus the 20-day average equity put:call ratio:
Remember my mention the other day of a possible bullish breakout in grains? Corn, wheat and oats all had fantastic days. I was in wheat, for a 4% day. Here’s corn, with its 9% move: