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Politics : Stockman Scott's Political Debate Porch
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To: crdesign who wrote (1562)7/8/2002 12:20:02 AM
From: Jim Willie CB  Read Replies (2) of 89467
 
USdollar chart, bigger picture over several months
stockcharts.com[h,a]daclyyay[dc][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G

20day MA = 108.5
50day MA = 111.5
now = 106.8

bounced off 105.5 a week ago (WorldCom day)
got up to almost 108 last week
just as expected, a repel from 20MA (maybe a little early)
currencies are dominated by futures traders
futures traders are the world's best technical analysts

we are seeing a quick move in preparation of a 105.5 retest
only a successful retest of that level for a few more closing days will enable a July stock rally
which would accompany a gold capitulation
prepare for a massive massive massive brokerage/press assault of positive news to support a July rally

these are rational thoughts laid out
now we will see the emotions run wild around the rational path
let's see if US$ gets down to 105.5 again

Tokyo is not gonna dictate much of anything on the Dollar
Central Banks are directed by the USGovt
all talk last week of Tokyo requesting US Fed help is bullshit
US Fed offered to help a desperate Tokyo
pure unadulterated bullshit
blame the intervention on Tokyo
the hapless leaderless inept Japanese Govt officials take financial marching orders straight out of WashDC and NYCity
/ jim
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