The
[U.S. Dollar Index]continues to be the lynchpin in
our “All the Same” market scenario and today’s new low beneath
74.94 is helping allow the recent upward push in equities, as well
as all other asset classes. The alternate interpretation for wave 5
of (C), which we published Friday, is playing out. Wave v (circle)
of 5 started at the November 3 high at 76.82 and is in its very
late stages. Today’s dollar index new low was not confirmed by
dollar/swiss, which so far remains above its October 21 low of
1.0035, nor the Loonie, which remains well above its October 15 low
at 1.0205. The dollar index has a tight cluster of support at
74.46-74.50, which we discussed Friday (see chart). This range
remains as good a target as any. A rally above 75.98 would be the
initial sign of a bottom.
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Interesting, that the web site did
A few notes from another web site
Posted by panaspor on 9th of Nov 2009 at 07:15 pm
Interesting, that the web site did not mention the dollar. If it remains in a strong down trend, isn't the market going to rise relentlessly?
Here is what was said about the Dollar
Posted by bboylan on 9th of Nov 2009 at 10:01 pm
The [U.S. Dollar Index]continues to be the lynchpin in our “All the Same” market scenario and today’s new low beneath 74.94 is helping allow the recent upward push in equities, as well as all other asset classes. The alternate interpretation for wave 5 of (C), which we published Friday, is playing out. Wave v (circle) of 5 started at the November 3 high at 76.82 and is in its very late stages. Today’s dollar index new low was not confirmed by dollar/swiss, which so far remains above its October 21 low of 1.0035, nor the Loonie, which remains well above its October 15 low at 1.0205. The dollar index has a tight cluster of support at 74.46-74.50, which we discussed Friday (see chart). This range remains as good a target as any. A rally above 75.98 would be the initial sign of a bottom.