DXY – NYBOT Dollar Index (Last:85.93)

NYBOT Dollar Index (DXY) price chart with targetsThe bounce from 85.09 yesterday occurred close enough to our 85.01 target to imply that Hidden Pivots are calling the dollar’s tune. If so, there are signs of weakness already starting to creep into the rally, since it should have reached 86.16 but only got to 86.04 (at least so far). Another subtle sign that bulls are lacking in gumption is their failure to surpass the look-to-the-left peak shown in the chart. If this rally were headed for significance, let alone greatness, the micro-resistance at 86.04 should have posed no problem. Instead, it capped buying for the day. _____ UPDATE (11:51 a.m. EDT): DXY got past all of the resistance points noted above, but because it took a second running start and a second day to do it, we shouldn’t be too impressed.