In John Carter’s daily commentary, he discusses the importance of monitoring correlated assets. The dollar index (UUP) has made a strong move to the upside this week, breaking out of a consolidation and moving above a confluence of moving averages. The move conversely bodes poorly for the Euro (FXE). The Yen (FXY), will be a key indicator for risk-off if it breaks out to the upside, indicating lower prices for equity markets. Treasuries (TLT) have continued to be strong as well and are a great hedge against equities. Carter points out that the only stocks to focus on for upside potential are those that have remained strong in the face of a weakening market. Recent examples include TSLA and NFLX. He sees the Nasdaq (QQQ) as the strongest of the equity indexes thus far, and believes the 55-day moving average will be a key support.