The commentary

S&P rallied overnight and the surprise surprise, the Dollar rallied too. The one difference in the rally of the last couple of weeks when compared to the last one year is that currently equities and other asset classes are witnessing a rally along with the rally in the Dollar. This last one year, there was a degree of negative correlation of most asset classes with the Dollar which clearly has broken down in the last couple of weeks.

I am not sure what one can attribute this too. May be our strategist friends will think of something soon. I will be looking out for CNBC or Bloomberg TV media specialists for answers. They seem to know all the reasons---after an event has occured.

I am short the market from 5040 levels. Currently I am in the money by a couple of percentage points. But surely the rally in Asia is going to wipe it all out today?. And my stops for this short position is still 5200. So by the time I get out of my short positions I could have lost 3 percent from my sell levels and 5% from here. I am not sure my company is going to like it.