Since the U.S. Dollar Index (USD) peaked near $104 in March 2020, which was very close to the top of its price range since March 2015, the index has been very weak, falling all the way to $89 early this year. The normal beneficiaries of a weak dollar are commodities and, on the stock side, emerging markets (EEM). Gold (GLD) and silver benefited from March until early April, but have declined ever since, with GLD the weaker of the metals. EEM has been on fire since March, up a whopping 83%. EEM has been particularly strong since the end of October, soaring 25% in two months and recently going parabolic (not good).