John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: MulhollandDrive who wrote (8949)	3/14/2008 7:42:03 PM
From: Oblomov	Read Replies (1) of 33421

I have no idea when "the" bottom will be... probably around 50 or 60 on the DYX sometime in 2009. In terms of a short-term or intermediate term bottom, I noticed an interesting divergence today in the currencies. CAD topped out in Nov. It was down slightly today. AUD possibly topped out in late Feb. Next week might tell if the lower high made this week on the AUD can be broken through and a new high made. AUD was down over 0.7% today against the USD. The GBP topped out in November and reversed from a lower high today. It closed down almost 0.5% against the USD. Dollar is still very weak against the EUR, CHF, JPY, Ruble, and Yuan, all of them making new highs, but the BRL and Rupee topped out in January. I'll have to watch this next week, but I don't see a near-term bottom yet.

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