There's essentially been one trade that's been going on -- a massive carry trade that involves being long the U.S. dollar and short every other asset class that could possibly trade, with the exception of stocks. In this update, I'll explain how and why these carry trades are working. I'll also break it down as to when or if we will ever see a change in the 'close your eyes and buy the highs.'
While we have been in a trading range for the past several months, yesterday's volume is now the highest volume we have seen in over a year, which clearly marks a continuation of heavy distribution.
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