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Monday, June 28, 2010


Trying to establish another uptrend.
The dollar is a key chart at the moment.  The U.S. wants to keep spending, and everyone else sees the writing on the wall and wants to reduce debts (so they say).  That would be bad for the dollar and a good reason for continued wave (2) pullback.  However will a weak dollar be as good for equities as it has been in the past?

Well one possible answer is that the dollar is again sitting at the 23.6% Fib and equities are clearly not at their recent 1131 high as the last time the dollar was at the Fib marker last week. 
I'm sure we'll see another massive flow of worldwide assets from one base to another in hope of finding a trustable short-term home.

Now Canada is being deemed a beacon of fiscal sanity for the world.
Umm ok.  You know when they toot that horn, the bottom is about to fall thats all I'm saying with that.

Good Luck.
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