Well you know Bennie has to justify QE3 somehow, right? If the dollar shoots back up and the market tanks…presto…he has his excuse. We knew the dollar demise wouldn’t be a straight line to the bottom anyway…
If the dollar rockets to 86.47, you can kiss this rally goodbye! I’d expect at least a 1,000 point drop in the Dow if the dollar goes that high. (tell me if you guys don’t see it please).
Yeah… scary huh! …at least for the bulls! LOL
red,
that dollar FP easily represents a ‘short squeeze’ that can explode the value…. the short usd trade is all to one side of the boat.
by the way, the last time the dollar was at 86 level, the dow was around 10,000 level………..
Well you know Bennie has to justify QE3 somehow, right? If the dollar shoots back up and the market tanks…presto…he has his excuse. We knew the dollar demise wouldn’t be a straight line to the bottom anyway…
That’s right Leo. Price breaking above 1356 can extend this. (ES)
Thanks San… looks like we can go high still.
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/04/es-support-level_28.html
I got a screen shot of it in case is disappears…
http://reddragonleo.com/wp-content/uploads/fp-dollar-86-47-on-04-28-2011-date-one-day-in-the-future.png
Hey gang, looks like that FP on the Dollar is back…
http://www.fxstreet.com/rates-charts/usdollar-index/
If the dollar rockets to 86.47, you can kiss this rally goodbye! I’d expect at least a 1,000 point drop in the Dow if the dollar goes that high. (tell me if you guys don’t see it please).
AMAZON Chart: http://niftychartsandpatterns.blogspot.com/2011/04/amazon-price-volume-breakout.html
very cool indeed thank you