The Only Chart That Matters
This afternoon the major stock indexes are trading higher as the Federal Reserve Bank Charmian, Ben Bernanke, gives a live press conference. As Ben Bernanke takes questions from reporters all that seems to matter is the action in the U.S. Dollar Index. As long as the dollar declines the major stock indexes seem to inflate higher. Traders should keep one eye on the dollar at all times as this is the only inverse relationship in the stock market that really matters. Should the U.S. Dollar Index catch a bid higher these markets could turn south quickly. So far, Chairman Bernanke, has not said anything that indicates he wants a stronger U.S. Dollar. There have not been any questions regarding gold and silver which are telling the world that the U.S. Dollar is in freefall.