Here's a followup to my prior post with chart views of how the dollar, euro and yen looked today, along with gold. Didn't everyone expect gold to skyrocket up and the dollar to continue lower into the depths? Look - don't get me wrong, perhaps that will happen. It's just that I don't really read the gold chart that way right now. If those things do happen however, then I won't stand in their way. And the $USD monthly chart - on which I starting marking a potential uptrend channel - is not sporting bullish indicators. So it's partly a matter of one Elliott Wave view, plus Fibonacci, plus the idea that a stronger dollar could go along with the long-wave or Kondratieff wave views of a deflationary winter that still hasn't finished playing out the toughest parts.
All this does is point that we may be looking at a turn. Readers know that I'd already been looking for that, and the gyrations of the past couple of weeks either negated that or delayed that - will see. Is it a matter of the planets?! In any event, we've got the clear lines for the Fibonacci pivots (and the euro higher but testing right on a fascinating number of 144). Let's treat this as a pivotal test of pivots, if you will, and let these point the way.




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