Wednesday, August 5, 2009

Dollar Index

Wanted you to be aware of a potentially important development that may be taking place in the dollar.

It appears that we may have finished minor 5 down, which would complete (C) . We clearly have a clean 5 wave structure off the low. I'm not sure what the big huge candle is from.

The Daily Sentiment Index is currently at 3% bulls. As stated in the weekend update, this market was very close to completing an important bottom. It might have done that today.

This will effect other markets. Keep an eye on the dollar tomorrow.

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