As far as the recent breakdown in UUP, that was extremely well telegraphed in the charts with the divergences & large rising pattern/trendline breakdown and as the US stock market & US Dollar have been positively correlated in recent years, it could have longer-term bearish implications on the stock market & certainly helps support the longer-term bullish case for gold.

Regarding HYG & JNK rallying into resistance, that aligns (or aligned) with my expectation of an imminent breakdown of that 60-minute bearish rising wedge pattern on QQQ which came today, right on cue. While this could prove to be another whipsaw sell signal, so far it looks about as good as it gets so it will be very interesting to see how the day ends & how we follow-thru later this week.