The dollar got hit pretty hard yesterday — for reasons unknown — but it caused only minor technical damage to the intraday charts (see inset). We cannot yet say whether the selling is likely to continue, or perhaps accelerate, but if the pullback traces out a pattern like the one in the chart, it may provide us with a way to accurately assess whether a the bull run is over. Specifically, as a sign that the bullish intermediate trend is still intact, we’ll be looking for an abc down-pattern to reverse around the midpoint of its c-d leg.