**Attached is a chart of the DXY Index (USD Index).. Note that
when the FED started cutting rates in January of 2001, there
was no response in the USD as it kept rising...Only when the USD
began to weaken did Equities and Gold start ramping higher...
Conclusion: USD strength (relatively speaking) is telling us
that the FED may have to do even more to unfreeze the markets..
**SPH now has 2 high volume levels... 818 and 835... Trading
below 818 tells us to set up shorts for a move to 740...
Trading above 835 (like we did for most of yesterday) tells us
to set up longs for a move to 844, 864-873, and higher..
Short-Term, there is "whipsaw risk" as a series of breakouts
and failed breakouts will occur before a Longer-Term trend
develops... We should see a break in either direction soon..
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