DXY – NYBOT Dollar Index (Last:86.33)

Although the Dollar Index has spent the last two weeks meandering sideways, it has nothing to prove at this point, since the heavy lifting has already been done.  This was true  a week ago, when DXY stabbed above a key peak at 86.87 recorded in April 2009.  The consolidation from the recent high at 87.46 could come down to as low as 82.86 without disturbing the long-term bullish case at all, but in any event, another powerful leg up would be signaled by a “booster-stage” rally of 1.86 points.