Metals Bonds $DXY

Dollar has had over a 1.5%  move against major currencies as people seem to think that all is well in the US or getting better. The ADP report and other recent economic reports have people dumping the Euro and Yen and piling in to Dollar. I think this move ends today or doesn't go beyond the 81 mark. The 150dma shows that the dollar is in a continued bear market phase and until the 150 starts to slope upwards and the price is above that mark it will stay in bear mode.

The weekly chart clearly shows people were dumping the dollar since may and it fell hard week after week till the euro crisis started to unfold. DXY attempted a rally to the 150dma in July and failed and we are once again rallying to that level. This is going to important level especially if you are long the CCI/Metals. 

As I mentioned yesterday that the technicals will win in the short-term as the retail investors level of handling short-term pain or pain threshold so to speak is low at the moment. The FED and its cronies like JPM have deep pockets and they have been manipulating the currency, bond and metals market especially silver. Silver is down big this week as is Gold and major technical damage has been done to the metals. Gold is below its 50dma for the first time in months and it has various levels of support, I expect it to trade down to its major level of support at the 50dma where the strong hands will load up the truck once again. So no new buys until then or if GLD holds recent level and builds a base over the next month or so would give the investor time to come in and build a position. 

Silver has been just hammered in the last three days, its violated the 20dma for the first time since its breakout a few months ago and even as it rallied hard off the lows yesterday I remain skeptical in that bounce. The only positive note I can make on this sell-off is the low volume, if you look at the previous sell-off's the volume was much higher. Not sure what it means when the most chart damage has been down on lowest volume. I have to look that up. Next level of support 27.20, hope we don't see that any time soon but I fear we will. 

The Long bond fell over two percent yesterday an is firmly in the grips of a strong downward trend channel, you can see how the 20dma steadily has declined crossing below 50, 150 and 200dma's. The 150 is just beginning to turn down. This is telling me that there is a long way to go (lower) in the long bond. Long TBT!