The Dollar Index is working on a red-line ‘mechanical’ buy that was profitable the day after it triggered on June 16. The trade, which is predicated on a 106.49 rally target, is still in the black, but my hunch is that a better entry opportunity awaits when this vehicle falls to the green line, 102.80. In the meantime, although we hold no position officially, we can continue to monitor DXY closely for signs of presumably moderate weakness.