Market Insider

The market chart of the year: Nope, it's not oil

Is this the chart of 2014?

There are many strong contenders to be the chart of the year.

Some point to oil prices, which shockingly plunged 50 percent in a matter of months. Others would look to the S&P 500, which exploded higher for a third year in row and has closed at a record high 53 times (so far), more than 20 percent of 2014's trading days.

They're each compelling stories, but neither is as impactful nor as important as the breakout of the U.S. dollar.

Presenting the chart of 2014: the broad trade-weighted dollar.