The Overdue US Dollar Rally . . .

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GrandSupercycle

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EURUSD downtrend and USD uptrend continues.

Key equity index weekly charts give bearish signals as the choppy correction gains momentum. S&P500 target is 1222 but that won't hold.

Unfortunately the March 2009 lows will be breached.

stockmarket618.wordpress.com

:devilish:
 
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There is bullish divergence on the weekly chart. However, I think USD still need a lot of momentum to officially become bullish.
 
Any rally will be short term imo.

There isn't enough mugs out there to purchase near $2 trillion of worthless promises to pay each year for very long, assuming the Fed stops buying.

The $ has just lucked out temporarily, given the Euro problems.
 
My weekly and monthly prop indicators continue to warn of significant EURUSD / S&P500 weakness and USD strength.

stockmarket618.wordpress.com
 
GrandSupercycle said:
My weekly and monthly prop indicators continue to warn of significant EURUSD / S&P500 weakness and USD strength.

stockmarket618.wordpress.com
Click to expand...

I don't want to get into a fight with you but weren't you calling the
S&P to rollover just below 1000 a year and a bit ago on Zerohedge,
same name if i remember,i guess if you keep calling it you'll be right one day.
Good luck.
 
Since DOW/SP500 is now EXTREMELY overbought, the reaction next week should result in a significant retracement.

S&P500 daily charts show updated rising wedge and possible head and shoulders pattern with target of 1150 when confirmed. Recent aggressive buying and short covering is revealed by very bullish candles.

http://stockmarket618.wordpress.com
 
You need to take the USA economy into account. In simple terms it's screwed and struggling to move forward. Until a clear swing towards recovery, the only trends favouring the dollar would be based on risk.
 
Elliott Wave - where Grand Supercycle comes from - is not the way markets always work. Think about it; why would commodities have a permanent uptrend? Inflation.. Ok that could hold water. But exchange rates??? There are long trends, and maybe Elliott can work for even monthly level analysis-I have not seen it.

As far as stocks topping, I thought we were done April 2010 @ the 618 nope just flash crash. Now the 786 has been tagged, and downside reaction happened. If it Will Be The Top!! Is pointless. To make money you just need to probably know direction of intermediate trend (720-240m) and have good lower timeframe entries. The market can only be known in retrospect
 
Dow Theory has the US stock market in an uptrend still.

Sometimes I do see Elliott waves - they do occur - yet the Wave Principle RELIGION is misguided. I'm with Arthur Merrill. Let's make it rigorous.

Isn't control over the deflation/inflation almost totally under control of the Central Banks, so even with USD no longer a primary reserve currency and if China won't lend to US, the money supply still could be adjusted at will by the Fed?
 
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