The U.S. dollar taketh...and the U.S. dollar giveth away. That's one way of looking at the flurry of activity in markets right now. The Aussie dollar is at a ten-month high. Oil is up 75% since January, with crude trading at $74/barrel. Copper is at a ten-month high. The S&P 500 has cracked 1,000 again. Meanwhile, the U.S. dollar index is showing all sorts of weakness. The chart below tells you a couple of things. First, you can see that when the short-term moving averages cross the longer-term moving averages, it usually signals a move. We're not making this up, by the way. We asked technician Gabriel Andre why the crossing of the 50-day MA over the 200-day MA was significant. His answer below. (more)
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