John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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From: nspolar	4/12/2008 10:56:51 PM
	Read Replies (2) of 33421

W/r to the dollar, I think I see some 3 wave patterns being strung together. I also suspect we are at or near the end of the 3rd '3'. Event though there may be a bottom here, the dollar still looks weak. What is indicated as a possibility on the chart is of the same nature really. I do not believe I see impulse waves down, but corrective waves that are impulse like. The possibility shown below extends the '3' wave concept into a triangle that may be a long ED. The upper line has not yet been really been determined, hence at this point it is just a projection. If the dollar goes higher at the 4 point than projected, and the triangle is valid, the real bottom then will not come until later in time than that shown. This imo could be a long long triangle. Ultimately, bonds may be safe for some time yet. img86.imageshack.us What about gold? From a wave perspective I do not believe the real bull in gold has yet started, although the low is definitely in. I think it needs a decent correction here, and that it will stretch out in time to maybe the area of the '4' on the dollar chart. Following that I think it takes off and does not look back for a long long time. I also think the real bullish move in pm's is yet to happen as well, in a realative sense. When it does it will put what has happened to date to shame. So shall we see, over the next few years and more. TF

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