This Week, It’s All About the Buck

[Jeff Clark's Market Minute]( This Week, It’s All About the Buck By Jeff Clark, editor, Market Minute This week, it’s the dollar’s turn to make a move. After a tremendously [volatile]( month of March – when the U.S. dollar dropped 4% early in the month, and then rallied 9% later in the month – the buck has been eerily quiet over the past six weeks. But, it’s now setting up for a big move… Recommended Link [On Monday, May 11: It’s OVER]( [image]( Even though we’re just hours away from The Phenomenon taking place, the smart money is still rushing in. Days ago, we learned the most successful hedge fund investor AND the most successful VC investor are starting to come into crypto. Just yesterday, we learned billionaire Paul Tudor Jones is now coming into crypto. In short: The smart money knows it’s not too late. Will you follow their lead? We sure hope so… This is your last chance to potentially turn a handful of $500 investments into a $5 million fortune. But we can’t take action for you.  [It’s up to you to click this link]( -- Take a look at this chart of the U.S. Dollar Index… The U.S. Dollar Index has been stuck in a tight trading range between 98.5 and 100.5 since late March. This action has created a consolidating triangle pattern – with a series of slightly lower highs and slightly higher lows. And, we’re approaching the apex of the triangle. The buck is poised to break out of this pattern in one direction or the other. And, that breakout is going to have consequences for gold, silver, agricultural commodities, Bitcoin, and any other asset that typically trades in the opposite direction of the dollar. As the dollar goes up, the prices of these other assets typically go down. And, vice versa. The chart of the dollar doesn’t provide any clues as to which direction it will break. All of the technical indicators at the bottom of the chart are in neutral territory. And, the chart of the dollar itself is sitting right in the middle of the big, volatile move in March. It could go either way. So, the purpose of this essay isn’t to tell you which way to bet. We’re not going to try and predict the dollar’s next move. We don’t have an edge here. But, traders should keep an eye on this chart this week and be ready to make a move when a breakout happens. A breakout above [resistance]( at about 100.20 should lead to a quick and forceful move higher. That will put pressure on the prices of metals, commodities, and cryptocurrencies. If the dollar breaks below support at about 99.20, then we’ll likely see a quick move lower. In that case, all of the inversely correlated assets should rally. Best regards and good trading, Jeff Clark Reader Mailbag In today’s mailbag, Rob and Ross share their experience being Jeff Clark Alliance members… I recently joined as an Alliance member and looked at some trades you’ve recommended. Then I saw a trade that had not moved out of the buy range. So, I bought a put option and I’ve made enough money to pay for my lifetime Alliance membership. Thanks. – Rob I love your trading style since it’s similar to mine and I’ve done better in bear markets than in bull markets over my career. I’m so glad I joined the service to increase my knowledge and see what [equities]( [ETFs]( and options you’re looking at. When you show what you’re watching, and I see what appears to be a somewhat irrational move, I can't help but to remember the mantra we had in crude oil trading..."The market can remain irrational longer than you can remain solvent!" – Ross Thank you, as always, for your thoughtful comments. We look forward to reading them every day. Keep them coming at feedback@jeffclarktrader.com. In Case You Missed It… [Running out of things to do? Try something new]( Running out of things to do while waiting for America to reopen? How about learning something new? 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