Several "highs" were made today. One was an "all time high"!

Oil heads back to $101 a barrel...the U.S. dollar retests the 30 year lows against 6 currencies (U.S. dollar index)....the EUR/USD hits an all time high today of 1.5046. The New Zealand dollar hit highs not seen since the 1980s. Wow!

What caused it all?

A series of events. Lower housing numbers...lower consumer confidence...Fed's Kohn talking about slower growth...and a better than expected IFO out of Germany.

Man that was a mouthful.

So I just wanted to update you real quickly before I shut it down for the day as to what was going on and why. What an exciting day in the markets.

On the flip side...

One thing that could be improving is the housing situation (as forecasted by the home builders index, symbol: XHB).

Stock prices tend to try to "lead" the actual recovery by about 6+ months. However, maybe we can see that the end is near. Check out the chart below.

The volume is following the "up" moves now. Plus it's broken the downtrend line as well. This could bode well for the U.S. economy in about 6+ months time. I know it doesn't rescue us today. But there may be a light growing at the end of the tunnel.

Sean Hyman
Editor/Trader
www.money-trader.com