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Thursday, February 3, 2011

E-minis

Interesting article. 2 permabears begrudge bullishness, down on the dollar, and hedging against inflation with stocks. http://www.marketwatch.com/story/pemabears-growling-grudging-bullishness-2011-02-03

Daily sentiment is terrible on the dollar as recently reported by EWI. Likely last night was only 5% bulls. Bonds are also low sentiment again and near due a correction.
Dollar chart could be a completed pattern, and we do still show some positive divergence on the 4 hour MACD signal lines.

There is a great deal of divergence in patterns between various dollar charts using all-hours or not http://2.bp.blogspot.com/_TwUS3GyHKsQ/TUnTLUEeEPI/AAAAAAAAIlw/HbCFdT0inf4/s1600/DOLLAR.png So to be honest, nothing is assured although very low sentiment readings are at an extreme so I'll go with my primary count below for now. Where I have [i] marked is the lone highest price.

The areticle sighted above I'll take a bit as contrary evidence that the dollar may be ready to turn up big time.
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