The long term outlook for the dollar is very bullish. Below is a daily chart showing a short term target for the dollar highlighted in green. It's very possible the actual end to this short term rally may go past the target shown but should stay within the channel on the chart. The longer the rally is in time will allow for further movement up the channel.

The $SPXA50R is showing stocks to be highly overbought. When this is showing a reading of greater than 90%, there is a high level of risk in long positions. The market can still move higher but conditions are ripe for short-intermediate term trend change.







The Wilshire Index(this index has a broad representation of the market)is also approaching a level of resistance with the upper blue trend line. Whether the line holds remains to be seen but considering the level of bullishness in the market noted by the $SPXA50R, it would be fitting to see the Wilshire retreat.

Here is a great example of a C=A zigzag corrective made today on the DOW emini future contracts index. In theory, the next move should be a motive wave down.