John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Louis V. Lambrecht who wrote (4899)	10/18/2001 3:45:05 PM
From: John Pitera	Read Replies (1) of 33421

Hi Louis, thanks for the chart update. The US Dollar index appears to continue to be in a primary downtrend. The price action since the Sept low in the Dollar index looks corrective in nature and the next impulse wave, which will have greater ease-of-movement should be down. A break below 111.85 could see an acceleration of the selling pressure, and a move below 108 would be confirmation of a larger top being put into place. A move above the 116.60 to 117.20 area would significantly improve the USDollar index outlook. Gold has fallen below 280 today for the first time since 9-11, and Silver has seen a very serious bout of selling over the past 7 or 8 days down to 4.25 today.

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