Planet Wealth

The market opened lower this morning based on overnight comments out of Germany as well as a "shockingly" lower Consumer Sentiment reading.  The US Dollar still appears overbought short term and actually did break its 10 day mva overnight prior to the release of the German IFO report (a key monthly report on the business climate in Germany) which caused an immediate spike in the US Dollar.  In addition, Germany said it wasn't opposed to more "quantitative easing" (translation: having the central bank inject even more liquidity) which is truly hard to imagine.  Today's market action will be almost certainly again tied to the dollar.   Another factor in the lower open was the release of the Consumer Confidence Index which fell to 46 in February after a reading of 56.5 in January.  A drop of that magnitude is significant.