Dark Clouds Over Dow - USD Lost Steam

In spite of China and Japan slashing down US debt by diminishing holdings in US Treasuries; the USD barely budge from its recent price recovery yet made no real significant signs as it declined lower from its closing week @97.56 basis point last Friday as of August 8, 2015

The USD resiliency has been supported with the continuing Oil and Gold's declining prices not seen for a long time as it extends bearish market sentiments moving forward well within the third quarter of the year. This was also accompanied by the recent export slump and bearish data coming from China contrary to the well received NFP figures from the US economy leading the FED to its first scheduled rate hike this September. With that said, US Stocks would continue to weaken as it now is below the 17500 and a retest below the all important 17000 may well be on its way. Depending on the current market conditions where investor's sentiments are uncertain contrary to last Friday's good reports on the jobs data. Prices on the Dow will now be as vulnerable towards the lower band of its price range where the 17039 first line of defense would be retested as it continues to decline. But this does not mean that the probable price pullbacks towards a daily price recovery can occur on recent decline. This proves the tug of war between bulls and bears to dominate on every up and downs.