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Below is a chart that shows the US Dollar/Euro "Trade" that global markets have endured for the last 3 months. THE Question is, does this morph into an intermediate "Trend", or was this simply a short term “Trade” that will revert back to its long term mean?

The US Dollar Index looks like it runs out of runway at the 77.80 level. Commodity prices are moving into positive buy signal territory using very short duration momentum models, ostensibly as a leading indicator of a “Trade” down in the US$.

If Bernanke keeps the easy money card on the table. I don't see why one last hurrah for the commodity bulls can't happen.

KM