blog updates will be sporadic during the rest of the month due to business travel.
MARKETJEDI
Tuesday, September 8, 2009
Gold and US dollar.
way back last year I noted the US dollar is in serious trouble:
http://marketjedi.blogspot.com/2009/03/beginning-of-end-of-us-dollar.html
http://marketjedi.blogspot.com/2008/05/is-it-wrong-to-be-betting-on-us-dollar.html
This is definitely coming to pass and I believe there will be alot more damage for the dollar and the rise in commodity prices.
http://marketjedi.blogspot.com/2009/03/beginning-of-end-of-us-dollar.html
http://marketjedi.blogspot.com/2008/05/is-it-wrong-to-be-betting-on-us-dollar.html
This is definitely coming to pass and I believe there will be alot more damage for the dollar and the rise in commodity prices.
MARKET
The big question in the market here is whether we have completed the rally off of the March lows, or we have more upside to be seen in the coming weeks and months
While we have evidence supporting both sides, my opinion is that there is not enough evidence to support an ultimate top.
As far as this being just a pause, there are factors such as sentiment readings, wave structure and momentum divergence that suggests the upside is finished for now.
Confused? why not!
I taken an neutral bias based on a completion of the 5 waves up, but I have not yet turned bearish to take a swing on the short side, and am not ready to unless certain levels are breached.
MARKETJEDI
While we have evidence supporting both sides, my opinion is that there is not enough evidence to support an ultimate top.
As far as this being just a pause, there are factors such as sentiment readings, wave structure and momentum divergence that suggests the upside is finished for now.
Confused? why not!
I taken an neutral bias based on a completion of the 5 waves up, but I have not yet turned bearish to take a swing on the short side, and am not ready to unless certain levels are breached.
MARKETJEDI
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