We have been in a roughly five and a half year bull market in stocks. We are now at the top of a major move. There is incredible volatility taking place in both directions at this point. This normally is an indication of the end of a move. So as I said, this would normally indicate that a top is in place, the major move has completed and we are heading lower in global stock markets. But because major markets today are centrally planned and manipulated, it is hard to be sure about anything.
Let’s take a look at the big picture: The dollar has been the reason for the decline in commodities and other major global currencies. In my view the move higher in the dollar was engineered to help Europe because the European Union is suffering economically. So the Fed is trying to help them out.
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