Today the somewhat less than Almighty US DOLLAR INDEX rallied 63.5 basis points to 79.509. That didn't help silver, gold, or stocks. Note, however, that all three were already over-extended when the dollar began to rally, & dollar or no, would have corrected anyway.
The Dollar's chart confuses me a bit. This last leg down ought to have carried further than the last (June) low at 78.33 intraday -- but it stopped short and rallied. The move will have to be accounted a rally if it gets above the present channel's top downtrend line, today about 80.25. Otherwise the Dollar ought to have more downside in its future.
