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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: High-Tech East who wrote (14070)	8/6/2002 4:22:23 PM
From: Steve Lee	Read Replies (1) \| Respond to of 19219

I can see the visual pattern but am no expert in what exactly constitutes a valid H&S. I am not sure you can apply the same rules to a currency index that is weighed against a basket of other currencies as you would apply to a stock measured in a single currency. I am also not sure that a H&S is a reliable indicator even for stocks. Do you see the inverted H&S the USD has formed on a smaller timescale over the last few months? I don't know how to predict movements in currencies in what I see as a coming period of worldwide financial misery. Not all currencies can go down so it will depend on how the countries fare relative to each other. The stock bubble is praps most significant in the US so maybe the dollar will fall. I guess this post was a very wordy way of saying "I don't know" <g>