Dollar Index

The dollar is still rising and may have started wave Z of a counter-trend bounce which will evolve as an a-b-c. What is not clear is whether this move will be small and go to only near 93 or all the way to the previous 4th wave near 94.50 before we can head lower. So this remains a near-term risk to markets till wave 3 down starts. It would again affect precious metals near term.