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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (17200)8/26/2015 11:00:06 PM
From: John Pitera2 Recommendations

Recommended By
isopatch
mary-ally-smith

  Read Replies (2) of 33421
 
20 Year Monthly Chart of USD index demonstrates that we are definitely going higher over the coming 6 to 8 months.

A few key points

The USD was boldly moving above the rising Bollinger band with each Green Elder Impluse Monthly Bar on the way up to the high just over 100 in mid march. The buck needs to go up to 102.50 at a minimum to make a high that would not be outside of the BB 20,2%

Second the Massive overbought and huge momentum RSI readings means that on this monthly chart we have to see the USD up in the 102.50 ---- 105 area over the next 6 months.

Three the RSI has the 5 period MA in buy mode versus the 55 month EMA and the stochastics are just in a neutral range. The Elder Impulse Bars are showing consolidation Blue bars.... no bearish Red.

I was looking for the USD to have a meaningful correction on March 18th a day or so after it registered it's 2015 high for the year on March 17th @ 100.71
The USD. Had a potential to have an medium term top to longer term top when the $USD registered it a reading of $100.71 yesterday. It is super over extended over it's 200 DMA and 50 WMA.

The Financial Markets are setting us up for a significantly profound period of major instability between now and Sept 28th. 2015.

Message 29989344
with crude near $40 I was forseeing a break back into the $30's... I should have been brighter about that .... If I'm looing for USD weakness and crude is denominated in USD's then..... USD weakness should bring a relief rally to WTIC ,

John

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