my projection (simple rule) -- USDollar to head to parity
stockcharts.com[h,a]daclyyay[dc][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G
the rectangular all summer long was 104 to 108.5 roughly
some really impressive symmetry exhibited
a 450 pt width maintained for three months
I expect we will exit this tight box
and head to 100 parity, with an overshoot
USGovt goombas will proclaim an end to the currency correction
but like the morons they are, a wrong pronouncement
it will head lower, to next support line in mid-90's
a 3-yr chart doesnt display pre-100 prices way back
that is over three years ago, wow
but parity in a general sense, in trade weighted terms
relative to the JYen, no change in a while
the damage done is versus the Euro
funny, it happened just a week after a 50bpt ECB cut
this is all engineered, allowed, fostered
but the decline in the US$ will soon feed upon itself
just like last spring and early summer
target -- 100
my guess is 95 is coming very soon
and PPTeam hoodlums with have their hands full keeping the floor from crumbling under stocks
I dont deal with reasons why it will move
far too many sitting on the horizon, and in our living rooms
/ jim |
