Weight of evidence suggests that market can go much higher, as long as it does not fall below 1249 ( base of this rally, where we suggested risk was worth on the long side). Meanwhile the Sell Pressure(Yellow, Oscillator) is high and can approach extreme, if market keeps moving higher here, suggesting that we should expect the correction or crash depending if the base is penetrated or not. sp
Strategy: Simple, Investor stay put(till 1247), Swing Trader, look for a place to short, short term trader, short and long to your hearts content. All of these must be cognizant of APoints.
09:04 ET, It looks like I was supposed to give more than 50/50 chance to stronger Dollar this morning( see my discussion with Dear Jason next post down). But still think that we are at the end of the wave A in Dollar and will be over today/tomorrow at most. Then healthy correction should lead to newer leg up into the end of August.
Dollar Don't Deny!!!
1273 1272 1270 1268 $x 1277 1278 1280 1282
End The Only Thing Going UP is! Dollar, When Dollar Goes UP everything else goes down. I can not help but remind everybody that, somehow the CHINESE and INDIANS and RUSSIANS and BRAZILIANS and EUROPEANS etc ( do not forget Americans working for multinationals ). all thought of themselves geniuses as the business was going well, little realising , that It was AMERICAN Dollars, stolen from American saver public ( MOSTLY SENIORS) that and dropped down from the helicopters of Dear Greenspan/Bernanke/Paulsen/Bush that was feeding it all
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