Sunday, November 7, 2010

11/6 9:15pm

Bought DX at 76.79 on a buy stop 18 cents beyond the key hourly M/A.  DX is on it's 5th wave up.  I'm not sure if it is complete but this marks a true turning point. 
Dollar breakout here coincides with a reversal of late Friday strength in stock market and commodities.  SP futures are down 4 points and have come down to support.  A decline below 1216.50 will be a sell signal.

2 comments:

  1. Hi Steve,
    Still think the market has some upside. The small caps have not made yearly highs yet.
    Are you looking at the Ascending Triangle Target for the S&P (which is at 1232) as a possible short target?

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  2. If SP and NQ futures hold support then there should be 1 more rally to finish it off. Dollar has decoupled from stocks. My only trade here is the dollar until I see the top or a breakdown.

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