Following up on Chip's post from yesterday [1] about the Greenback's technicals, I'm watching the US dollar index closely here as the investment implications are many. To put a finer point on it, the significance of a breakout at 74, which would be its 2nd important signal off the bottom, would suggest an initial target in the 75 - 77.50 range. Such a breakout would also hold negative short-term imlications for some commodities--particulary gold.

Intra-day, the high this morning was 73.96, so watch this gauge closely.