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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (22290)	11/26/2001 10:19:21 AM
From: John Madarasz	Read Replies (1) of 209892

O/T The clownbuck has retraced 61.8% of its recent swoon and is back to 118 resistance. A right shoulder? It looks like a great short to me. I hypothesize that the 'hot money' as Noland calls it will not stick around in the US debt market if it continues to tank. We're talking billions of dollars internationally. These outflows would be the catalyst for a US$ drubbing. Shack, i've been doing some work along those lines, and i have to disagree with you here... i think the dollar is in a longer term topping process, hopefully the charts will tell the story ...after hours if need be... $ is bullish i think, this is bad for golds short term. 1)An older $ chart i drew up 9-25-01 stockcharts.com 2)longer term, Unfinished monthly... stockcharts.com 3) L/T with Fibs stockcharts.com 4)showing breakout above d/t line and overhead resistance 10-23-01 stockcharts.com 5)Updated daily $USD stockcharts.com Remember, BULL markets often require a long topping process (dollar) and start with a whimper (Gold). I think the Dollar will top out in the 125 - 130 range around the new year...if not sooner zealllc.com Best, JM

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