3 replies to this topic

[zedor]

Zedor,
Only 12 more trading days to August and the dollar futures are only 0.29 from trading in the 70s

Larry T.

from July 14 http://www.traders-t...?...st&p=299388


I agree with LarryT that the dollar is at an important juncture. From a technical perspective it looks like its forming a large bullish wedge and oversold to the extreme.

The question now is does it explode up out of this or collapse. Technically I cant see it collapsing here. Fundamentally I cant see the FED letting that happen either.

11 trading days left to see.

What makes the most sense is that this dollar low is coincident with the market top that I am saying we are making here. I have been saying for years the dollar and the market are inversely related in this bull leg of the US equities markets.

Edited by zedor, 17 July 2007 - 06:08 AM.

[zedor]

[Trend-Shifter]

I agree with LarryT that the dollar is at an important juncture. From a technical perspective it looks like its forming a large bullish wedge and oversold to the extreme. The question now is does it explode up out of this or collapse. Technically I cant see it collapsing here. Fundamentally I cant see the FED letting that happen either. ================ Watch gold, it will give you the answer. Gold higher with lower dollar. Gold lower with stronger dollar. I should have sold my miner yesterday, but I was traveling. It was just hinting that the dollar will firm and gold is heading lower. My trailing stop said sell too! Now I'm in the Hong Kong airport and will get on another plane and can't sell my miner until a couple hours after the open.

[LarryT]

Zedor,
Only 12 more trading days to August and the dollar futures are only 0.29 from trading in the 70s

Larry T.

from July 14 http://www.traders-t...?...st&p=299388


I agree with LarryT that the dollar is at an important juncture. From a technical perspective it looks like its forming a large bullish wedge and oversold to the extreme.

The question now is does it explode up out of this or collapse. Technically I cant see it collapsing here. Fundamentally I cant see the FED letting that happen either.

11 trading days left to see.

What makes the most sense is that this dollar low is coincident with the market top that I am saying we are making here. I have been saying for years the dollar and the market are inversely related in this bull leg of the US equities markets.

When the dollar rallied from 82 to 85 earlier this year my call was by August the dollar would be trading in the 70s not the 90s. The dollar is at 80.26 today, only .27 from being in the 70s and its not August yet.

LT d:^)