USD strength and EURUSD weakness gets more pronounced.
Bring on the overdue USD rally.
Bring on the overdue USD rally.
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Market Outlook
- Thread starter GrandSupercycle
- Start date
Quote from GrandSupercycle:
S&P500 daily chart posted at my blog shows extreme overextension contained within the megaphone pattern.
This pattern reminds me of Wile E. Coyote temporarily defying gravity after running off the cliff...
I see no megaphone pattern in SPX. If you see one, can you post a chart.
Have been asked by some blog readers to give a concise summary of what I see ahead.
When DOW/S&P500 etc. overdue correction commences, I expect:
UP:
US Dollar and various USDXXX currencies
DOWN:
EURUSD, AUDUSD, NZDUSD, Base metals like COPPER, CRUDE OIL,
GOLD/SILVER
When DOW/S&P500 etc. overdue correction commences, I expect:
UP:
US Dollar and various USDXXX currencies
DOWN:
EURUSD, AUDUSD, NZDUSD, Base metals like COPPER, CRUDE OIL,
GOLD/SILVER
Quote from GrandSupercycle:
Have been asked by some blog readers to give a concise summary of what I see ahead.
When DOW/S&P500 etc. overdue correction commences, I expect:
UP:
US Dollar and various USDXXX currencies
DOWN:
EURUSD, AUDUSD, NZDUSD, Base metals like COPPER, CRUDE OIL,
GOLD/SILVER
I posted a link in the other thread:
http://www.elitetrader.com/vb/showthread.php?s=&postid=3093186#post3093186
Timing is impossible to determine but the levels appear clear from the charts.
S&P500 monthly chart at blog shows updated rising wedge scenario.
AUDJPY weekly chart reveals whatâs been happening since the crash and the ârecoveryâ.
The smaller wedge that starts mid 2010 reveals a weakening trend despite the QE intervention.
This chart should not be ignored in my view.
The smaller wedge that starts mid 2010 reveals a weakening trend despite the QE intervention.
This chart should not be ignored in my view.
USD buying support / EURUSD selling pressure returns today.
Thus we return to the recurring pattern as the dollar continues to wind up for a rally.
Key global equity indexes remain very overextended and as a result the overdue correction may be sudden.
A reminder that the volume for S&P500 has been declining steadily since the March 2009 rally started. Declining volume during an uptrend or downtrend can signal trend weakness.
Thus we return to the recurring pattern as the dollar continues to wind up for a rally.
Key global equity indexes remain very overextended and as a result the overdue correction may be sudden.
A reminder that the volume for S&P500 has been declining steadily since the March 2009 rally started. Declining volume during an uptrend or downtrend can signal trend weakness.
The overdue Wile E. Coyote equity correction gets closer.
12,400 should be the DOW top - let's see if i'm right.
Last price 12,271
Last price 12,271