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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (53289)	9/15/2002 11:36:41 AM
From: John Madarasz	Read Replies (2) of 209892

sometimes the 8-17-9... and a lot of experimentation still...but i really don't rely on it much, which I elaborated on in my latest message to Al. More just trying to raise a little more awareness, and introduce some challenging thought. $ Info here: There was a significant development in the status of the December U.S. Dollar Index (DX2Z) in Friday's trading session. The dollar was in a longer-term downtrend, and needed to "close" above 108.37, in order to neutralize that negativity. The dollar closed at 108.60 on Friday, so it's now in a neutral zone. The next level of resistance for the dollar is the 8/22 high of 109.04, followed by major resistance at its 8/06 high of 109.80. The dollar will switch from neutral to bullish for the longer-term now if it can "close" above 109.80. Near-term support can be found at 107.45, followed by major support at 106.05. If the dollar continues to move higher on Monday morning, especially if it gets above 109.04, it will likely give a boost to the stock market. The synchronicity between the dollar and the stock market is well documented, and they've been tracking each other quite closely recently USD trading at 109.75 as of now quotes.ino.com Older chart showing the Inv H/S back in play boomspeed.com

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