So much for the greenback bounce. This is still a good trade in my view but no market is letting us play very easily. Stock leaders crashed – for about two days before moving on to new highs. Same for oil. Can gold be far behind?br /br /a onblur=”try {parent.deselectBloggerImageGracefully();} catch(e) {}” href=””img style=”margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;” src=”” alt=”” id=”BLOGGER_PHOTO_ID_5197361334939261298″ border=”0″ //aAt least the bond market is behaving itself and continuing in its breakdown. And as I wrote in Barron’s Online, so too are utilities /br /We would expect commodities to go up on a day like this and indeed they did. Crude is a rocket but I bet my Elliott Wave friends might say it is in a 5 of 5 now so don’t get in too deep. Let the Goldman predict 200 bucks. That seems a tad too high now (I was a 115 proponent back in February).br /br /My message today is expect major fakes in markets that have not done so yet. Based on sector leadership and intermarket stuff, nothing is different now than it was last month – except that many markets could be in terminal waves. Enjoy them while they last.