What else is new? Whenever the U.S. Dollar Index even down ticks a little the market inflates back higher. This is undoubtedly the strongest inverse relationship in the stock market. Should the U.S. Dollar Index somehow begin to surge to new highs on the session look for the major stock market indexes to come under pressure again.
Today is the Veterans Day holiday in the United States and this could cause the volume to get very light after the first couple of hours of the trading session. Therefore, it is important to realize that light volume will generally favors the upside. Today the bond market is also closed and this could also help stock trade off the lows. Remember when the cat(bond market) is away the mice(stock market) will play. Essentially every trade is still a dollar trade.
