The continuing rally in the Dollar has put the US Dollar index in striking range of its 200-DMA. As shown below, the index hasn't traded above this level since mid September.
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While the Dollar is in rally mode, equities are struggling. The S&P 500 once again finds itself below its 50-day moving average (DMA), and while the Nasdaq still remains more than 1% above its 50-DMA, it has broken the short-term up-trend that was in place over the last two weeks.