Hawk, your comments about the dollar and tech have prompted me to once again show the main currency charts, within the dollar basket. Your comments were very interesting.
Let me comment about these charts, just a bit.
All but the dollar and the yen appear to be at or near decent IT peaks. These others then could retrench 50 to 70 % of what they have gained, since their big moves off the their last big lows, before resuming. This is just natural. The only one that may not quite be near a top is the Swissie.
The Yen imo appears to be in a C of 2 triangle, that started in '00. If so it is thus range bound, and about to start D leg up, but will not go far. That triangle may take another 4 to 5 yrs to complete. Interesting enuff that imo is not an unreasonable estimate as to when all hell might break loose in the gold/pm markets, based on pm indice charts.
If now IF I am correct on that triangle, and on what the others are doing, this might infer that when the Yen ends that triangle and really goes up, all others but the dollar will be doing the same. The dollar would then literally tank. But that is a ways off.
So, for the near term, if the others go down and the Yen is a bit range bound, where does this leave the dollar? How high will it go? Imo it is not hard to see the possibilities.
The dollar shot up this last week like it left a cannon. Very impressive, as it should do if it is on a march upward.
It appears to me currency and gold traders need to be following every tick in here.
TF
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