9:01 am PST. We could see at the end of December 2016 that the dollar was making marginal new highs on increasing negative divergence on all time frames. I wrote that rallies end on negative divergence and presented detailed charts on multiple time frames the mounting negative divergence in the dollar etf, UUP. I left open the possibility of one more high, but that if the dollar did make a new high it would be the ultimate sell signal. Last Friday we saw unusually high selling volume in UUP and we can see this morning the UUP has gapped down. I do not think this gap will be filled any time soon and that the dollar may have just seen a long-term top.