Double market selloff today, as the market was top ticked twice on the brunt of a "strong" dollar. The dollar is testing resistance, and resistance is at 80.5. Look for a selloff on the dollar to happen as soon as tomorrow.
Although I have not got the moves in PMs that I had been calling for on the week, I did get the consolidation I called for. Last weekend, and I always decide on the week ahead on the weekend, I called for a consolidation on the news of Ireland's bankruptcy. Little did I know the Tax Cuts were also going to make the news. This is the US Government front running the news.
Today the dollar has tugged the rug out from all markets. Not even the US Bond market was safe. PMs are barely holding onto their ranges. Interestingly, Platinum has had a good day so far, in the face of a strong dollar. What is causing this and how is cash still King? The unbearable darkness that is the FIAT is trying to make one last desperate attempt at regaining control of the FIAT ponzi.
I am willing to bet China or some force is sending a signal to the US about their Tax Cuts. The tax cuts will further the US bankruptcy, a bankruptcy that is unstructural in nature; there is no way to repay the debt, other than to sell US land, and that would only happen as paper deeds from government to government; Americans would never be owned by another country, as they have proven over the years. I do not think the people would allow the trillions of dollars owed to mean China would own the whole continent.