Dollar and equities pretty much in trending sync for long time now, whole world waiting for this bounce zone to take effect, but since red vertical line, the relationship has changed. Last couple times it did not sync... wait for it... major equity crash/corrections. So_____________________ fill in the blank. King Dollar, is just that, sometimes it is the only thing that matters, it represents change, and global change: FX, trade, EPS, EEm, etc. etc. I am nuetral, tug of war is, Trump wants low dollar for a lot of reasons, big cap (FANG, and the rest international) will suffer greatly if the dollar strengthens. the whole Trump Yellen relationship is based on it. Goldman up, because raise was baked in, now no raises, dollar down, lets FED not raise, dollar up, rates raise, and equities down. Catch 22. Trump needs dollar low for long enough to get tax deal done, then, whatever. Now that is not looking so good, they just cannot get along in DC.