It has been a long week and a week not to be long. All of the hope and hype of last Friday has been replaced with the despair that usually comes along with NYSE option expiration. Could next week be better? Maybe. But several other factors continue to work against us.
Chief among those factors is the POSX. It has been in a downtrend since early February but, as you know, all trends eventually end and the downtrend in the POSX appears to be ending, too. This does not mean that it’s headed straight back to 110 from here as Trump clearly prefers a weaker dollar…and he’s going to…