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.

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