On Friday, the Dow stalled, leading many people to wonder whether we have seen a top in US equities. Although we could be nearing one as resistance looms at 13,800, today’s 100 point rally in the Dow has helped to take the Japanese Yen crosses higher. Despite stronger than expected money supply and machine orders, the economy continues to be held back by weak sentiment. Last night, the Eco Watchers survey for the month of November dropped from 41.5 to 38.8, a four year low. Unless the government finds a way to revive consumer spending and boost consumer sentiment, they will have a tough time supporting an interest rate hike. Since there is no overnight solution, expect the Yen crosses to continue to dance to the tune of the Dow in the interim.