I am still standing by my claim that September will be rough for all things other than USD. Everything I hear about USD the last week is that it has to roll over, doubt it happens.

Sometimes when looking for upside targets, I play with Fib retracements. The idea is when you look back at a rally with a Fib retracement, the rally usually bounces around on the fib lines as if it knew where it was going.

Here are two scary projections for people who are long anything but cash at the moment.   A more conservative target of 107.4 or a more aggressive target of 109.2.  Be cautious!