Wednesday, October 28, 2009
Dollar Charges Higher After Making Significant Bottom
The dollar continues to rally hard across the board this morning, putting a lot of downward pressure on the stock market. Yesterday I suggested that with 5 waves up, a correction is due and a retest of the descending trendline was possible. Well after a very feeble decline that didn't quite touch the trendline, the dollar is charging higher. This is a signficant bottom in the US dollar that should last months if not years. Look for the dollar to continue higher from here.