As the US$ has strengthened in the last few weeks, commodities have sold off, and global stock markets have risen. My quantitative models have 72.67 as the critical line that needs to hold. Currently the US$ Index is trading up again today at 73.44. This is the driving factor behind an inflation sensitive stock market.
There is still a lot of hay to bail here. But the momentum "Trade" is finally at the US Dollar's back, rather than in its face.
(chart courtesy of stockcharts.com)