Dollar Index

The dollar index made a lower low yesterday however it did not break the trend line of the last 2 lows at 92.30. End of the day it close positive resulting in one more positive divergences in the RSI indicator. This once again raises the odds of a bounce back in a pending 4th wave before wave 5 down can start. In other words unless we go below 92.30 we may still expect 1st move towards 93.23 and above that 93.80 in wave 4. In the short-term this could once again create a negative reaction in the metals, precious metals and mining stocks.