The US Dollar Might Have Entered A Cyclical Bull Market Today
The US Dollar might have entered a Cyclical Bull Market today, see http://stockcharts.com/charts/gallery.html?%24usd. Note the large bullish inverse spike, and, the bullish white candle, which indicates a close above the open.
A 5% follow through (after breaking the Cyclical Bear Market downtrend line in effect since late 2005) major buy signal is required to confirm that the US Dollar has (very likely) entered a Cyclical Bull Market, but, today's action (dramatic reversal and close near the session cycle high) and bullish candle makes it a good candidate for a Cyclical Bear Market cycle low.
In recent months the savvy non contrarian US Dollar Commercial Traders have been anticipating a Cyclical Bear Market cycle low, since they're now net long by over 11,000 futures and options contracts, see the last/sixth data at http://www.cftc.gov/dea/options/deanybtsof.htm.
Beware the noise of undisciplined, biased, and in some cases, corrupt minds.
....... http://www.JoeFRocks.com/ .
A 5% follow through (after breaking the Cyclical Bear Market downtrend line in effect since late 2005) major buy signal is required to confirm that the US Dollar has (very likely) entered a Cyclical Bull Market, but, today's action (dramatic reversal and close near the session cycle high) and bullish candle makes it a good candidate for a Cyclical Bear Market cycle low.
In recent months the savvy non contrarian US Dollar Commercial Traders have been anticipating a Cyclical Bear Market cycle low, since they're now net long by over 11,000 futures and options contracts, see the last/sixth data at http://www.cftc.gov/dea/options/deanybtsof.htm.
Beware the noise of undisciplined, biased, and in some cases, corrupt minds.
....... http://www.JoeFRocks.com/ .
posted by Joe Ferrazzano at
7:49 PM
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