Today's intraday reversal in the equities markets follows a pattern that has been established of late of selling into rallies. Key support levels have been broken to the downside and without a late day recovery a close below those levels will likely usher in a significant pullback.
The dollar has also broken out of its descending wedge pattern. I was observing that the dollar was not selling off on the significant early strength in equities and was instead starting to push higher. I think the dollar is beginning a rally that will surprise many.
I generally deliver my semi-monthly "BullBear Market Report" as a written blog entry. This month, due to a time crunch and the desire to experiment, I have prepared it as a vide presentation. This was produced on Sunday night and the analysis in it seems to be playing out in the markets now.