DXY is back and EUR is trash.
AUD has a nasty double top.
Lead boots are OK.
Gold and oil are in trouble.
Ditto metals.
Big mining rotation, my butt.
EM pumped and dumped.
Junk is warning.
As yields spike.
Nasdaq also pumped and dumped.
US inflation was pretty good at 0.3% MoM and +2.7% YoY, bang on expectations, but imported goods prices started to move higher, confirming tariff-flation in the pipe.
This is combining with the huge DXY short for what is building into a pretty serious reversal.
The robots are on the wrong side of the ship.
Such reversals tend to be material.
As tariffs drive better US growth versus the world.
Rising yields led by the US are not good for stocks, notably bad for tech, which has run wild, and bad for global growth.
But they are good for DXY and bad for AUD.
Rally caput.
