Stocks to Buy Today - Stock Message Board, Discussion Forum, Blog
US Dollar Index
I know Terry mentioned the Symemtrical Triangle forming in the dollar index, just thought I would show everyone. It offically closed outside the upper trendline today. The same pattern appears on the Euro as well, but the Euro hasn't closed below the lower trendline yet. The conservative entry would be to wait until both currencies close outside the trendline before taking a position. First chart is the Dollar Futures, and the second is the Euro Futures. I prefer the Futures contracts to the currencies since the Futures show volume.
Views: 5
Replies to This Discussion
-
Permalink Reply by Brandpn S. Porter on
-
Top MemberPermalink Reply by Terry H on -
Hi Matt, my automatic trendline chart is not showing a breakthrough on the dollar index, but we'll see. I'm still thinking it is a 4th wave up...this consolidation would be an a-b-c-d-e triangle, and after the "e" the price goes in the opposite direction. EWI disagrees with me, although they said it was one option. We'll probably find out next week.
The metals are reacting as if the dollar is going up, so you may be right. If you are, it's a negative for the stock market as well. The stock markets do look pretty bad.
-
Top MemberPermalink Reply by Terry H on -
EWI tonight addresses my wave count, saying that waves d and e are too short in time and price to be orthodox, although it is an alternate count to the EURUSD going down in a wave 3 (strong and long).
Like Us on Facebook
Stock Alerts
- Subscribe Via RSS Feed or - Subscribe to Stocks To Buy by Email
Research
Buy Oil Stocks 2012/2013
What Stocks to Buy? Oil prices continue to rise and oil stocks are a good buy for the long term. For oil stock ideas, check out the latest hot shale plays in the US.
Utica Shale
Bakken Shale
Eagle Ford Shale
My Stock Picks for 2012
Upcoming IPO's 2012
Emerging Oil & Gas Fields
© 2012 Created by Stocks To Buy.
