I look at the Euro cycles and they look sick. This dollar strength is not based on speculative action, the strength is a serious defensive move on a massive scale, very large institutional capital flows are occurring towards perceived safety and it’s driving the dollar and the bond markets to extreme overbought areas. Smart money is scrambling ahead of the coming stampede; they know when it’s time to seek protection. This move is like those first big sudden gusts of wind before a storm; we ignore these signs at our own risk.
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