Just as Foreign countries are diversifying out of the Dollar ... just as the
Dollar's carry trade is being overdone, the Dollar is poised to make an upside
run.
Take a look at today's chart and what do you see?
The Dollar just started to break above its 8 month resistance line. At the
same time, its Relative Strength has been trying to move above a resistance
line for 7 months ... until yesterday when it broke out above it.
Granted, the RSI is still not very strong, but if it starts to trend up and
can make it above 50, then the Dollar could catch fire on the upside. Right
now, our Accelerator is a strong positive indicating that the RSI should move
up higher from here.
If we get a significant up day on the Dollar soon, it could be a game changer
because too many investors and countries are on the wrong side, which could
initiate a short covering rally.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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