The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: ggersh who wrote (18135)	3/5/2009 11:20:47 AM
From: LTK007	1 Recommendation Read Replies (1) of 71456

How about we have 61.5 retrace level as in 74, BUT the rally will ONLY be for several months and then DOWN WE GO, and will NOT duplicate 74 rally beyond the initial rally. It shows institutional support for the Dow at 5970, which corresponds with the 61.8% retracement on the Fibonacci grid we have been using. When one has a confluence of technical support levels, the effect tends to be stronger. We therefore expect a tradable multi-month rebound in the market from the 5900 level in the Dow. But we do not expect it to last more than a few months and we recommend using any substantial rally to sell inventory and buy inverse ETFs. spearreport.com

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