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Well what are the big stories today was the US dollar which fell across the board.

In fact the US dollar index closed below 90 the first time it's traded with an 89 handle

since February of this year we close at 89 79 down about .38 on the day.

And you know if you look at the dollar index and take a look at a chart we are very close

to making a low going all the way back to December of 2014 because all we need to do is

fall by about a half a percent and we will take out the low from March of 2018 which was

around 88 23 and then if we break that which again we're less than 2% away from that

maybe 1.7% if we break that we will be trading at a level that we haven't seen since December

of 2014 but remember the dollar had a big rally in 2014 and that was based on the false

expectation that QE had been a big success and that because it works so well the Fed was

going to be able to successfully unwind its policy so it was going to normalize interest

rates and shrink the balance sheet back down to pre 2008 financial crisis levels.

Now of course none of that was true the entire narrative upon which the dollar rally was

based ended up being false exactly what I said was going to happen the entire time traders

were buying up the dollar so I think once we really start to get back into the 2014

level I think the dollar could quickly surrender all of its ill gotten gains from 2014 and 2013

and we could see the dollar index making a b-line for all time record lows below 70 but

you know what's really significant about the fact that the dollar is selling off now is

that the dollar is selling off despite the fact that bond yields are continuing to inch higher

...