I see that futures are up tonight, not surprisingly, earlier
today I posted a couple US Dollar charts; here's an updated 240 min
US Dollar chart. It's starting to break support. As I
said earlier today, to me the US Dollar looks weak and needs to
make another new low to complete the 5th wave, next support is
around 74.5, so why not just bust down and go there. Plus
that would give the market more upside and why not, I have quite a
few longs on the watch list and that would help out the watch list
longs even more.
On Wednesday before the bell we have a lot of economic news, so
the market could gap on that either up or down. Also as Steve
showed in his Newsletter, the bollinger bands are tight, this means
a strong move is coming
US$ is down overnight looking like it may want to make a run at
the recent lows 74.75 and try for support at 74.50.....meanwhile
SPX future up 5 points...both fit well with a pop.
This works well with McHugh's idea on how the market should be
playing out with a final bearish wedge leg up, so only a final
wave's c,d,e to complete... so a pop up of another 100-150
dow points would fit perfectly, and make the McClelland Osc. a
winner.
Never mind that last Q's 3.5% GDP was revised DOWN .7% or
20%...with quiet holiday markets, seems like a perfect time to
manipulate these markets higher. I still say that the Full moon
early AM Dec 2nd will show up as a top Dec 1st, if not Monday Nov
30th.
Oh wait, if this is the last push up, that would make the EW
folks off by about a week....dang they couldn't be correct overall
but a week early, could they? SPX must be getting ready to run to
1200 and Dow to 11,000+
US Dollar
Posted by matt on 25th of Nov 2009 at 02:11 am
I see that futures are up tonight, not surprisingly, earlier today I posted a couple US Dollar charts; here's an updated 240 min US Dollar chart. It's starting to break support. As I said earlier today, to me the US Dollar looks weak and needs to make another new low to complete the 5th wave, next support is around 74.5, so why not just bust down and go there. Plus that would give the market more upside and why not, I have quite a few longs on the watch list and that would help out the watch list longs even more.
On Wednesday before the bell we have a lot of economic news, so the market could gap on that either up or down. Also as Steve showed in his Newsletter, the bollinger bands are tight, this means a strong move is coming
$USD is at 74.45 right
Posted by junkie on 25th of Nov 2009 at 07:15 am
$USD is at 74.45 right now, down .065. I hope to see a break-out to the upside now to test 1017 area
Dollar down,
Posted by perthx on 25th of Nov 2009 at 03:34 am
US$ is down overnight looking like it may want to make a run at the recent lows 74.75 and try for support at 74.50.....meanwhile SPX future up 5 points...both fit well with a pop.
This works well with McHugh's idea on how the market should be playing out with a final bearish wedge leg up, so only a final wave's c,d,e to complete... so a pop up of another 100-150 dow points would fit perfectly, and make the McClelland Osc. a winner.
Never mind that last Q's 3.5% GDP was revised DOWN .7% or 20%...with quiet holiday markets, seems like a perfect time to manipulate these markets higher. I still say that the Full moon early AM Dec 2nd will show up as a top Dec 1st, if not Monday Nov 30th.
Oh wait, if this is the last push up, that would make the EW folks off by about a week....dang they couldn't be correct overall but a week early, could they? SPX must be getting ready to run to 1200 and Dow to 11,000+
Happy Thanksgiving...see y'all later.
Ah yes that elusive 5th
Posted by john9o9 on 25th of Nov 2009 at 08:03 am
Ah yes that elusive 5th wave on the dollar! Any thoughts on why Oil has shown so little reaction of late to the losses in the dollar?