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The Keys To The Market Today

The markets are slightly lower today on the back of a stronger Dollar. The Dollar has spiked higher four days in a row, after the November 2009 lows were taken out on the PowerShares DB US Dollar Index Bullish (NYSE:UUP). Most likely, the Federal Reserve, under extreme pressure from foreign countries, realized that breaking below the 2009 lows could leave the Dollar open to a massive drop or collapse.  In addition, the Dollar had fallen dramatically into the Federal Reserve announcement on the second round of quantitative easing. Since that announcement, public opinion is shifting more and more towards no addition easing, thus strengthening the Dollar while issues in Europe look worse.. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $121.09, -0.52 (-0.43%).

Gareth Soloway
Chief Market Strategist
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