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Actionable news in XIV: VELOCITYSHARES DAILY INVERSE VIX SHORT TERM ETN,

Get your affairs in order because this rare technical signal is flashing red

20thCentFox/Courtesy Everett Collection
The global economy is on the ‘Titanic’

The U.S. dollar, which has been under pressure since late last year, is coming off its best week of the 2016. While it wasn’t exactly a huge move, it was enough to deliver a hit to currency traders, who had started the week loaded up on short positions to a degree not seen in almost two years.

In other words, it was finally a great week to be a dollar contrarian.

Marc Chandler of Brown Brothers Harriman says “the key issue facing the foreign exchange market is whether the modicum of strength the U.S. dollar demonstrated last week is the beginning of a sustainable move.” Read his full weekly preview.

The potential impact of the healing greenback on a fragile stock market is something traders will keep their eye on as we exit a mostly downbeat earnings season.

Dollar aside, there’s an ominous technical signal lurking in the shadows, according to the Northman Trader blog, which recently called for the market to break from its range with a big move one way or another. Is now the time?

“Something happened Friday that’s happened only twice in over 20 years on the $SPX: The weekly 100MA has crossed over the weekly 50MA,” the blogger said. “The last two times this happened carnage followed.”

Maybe Albert Edwards is on to...

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