Wednesday, November 11, 2009

Weak Dollar? What “Weak Dollar”?

Eurodollars are deposits denominated in US dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve.

 

2009-11-11_1753 Anyone cares to explain how, basically, the same damn wooden dollars, just tied up to LIBOR rates (which are mediocre now to say the least) keeps going up when suckers dollars (the garbage they pay you and me with) keeps falling?

 

Anyhow, lately there is a common perception that “market topping, dollar bottoming” – let see different “dollar bottoming” charts.

 

First -


 springheel_jack point of view:

“USD may have bottomed:
091111C USD Trendlines


We have stopped at the rising wedge upper trendline rather than the expanding wedge lower trendline. We may well go no further & if so, then USD is bottoming out.”

 

Next up:

 


innatedc Today 01:53 PM

dollar taking a peeking out of its groundhog resistance hole here....see if it gets snipped off.....TICK VIX is rising....

 


Bart7 Today 02:05 PM in reply to innatedc

dollar chomping at the bit today, lot of intraday volatility, looks like a race horse in the gate.... could be near the start of an explosive move

 

 


DDT’s poor man’s UUP $DXY substitute chart (damn TOS does not have enough data and my NinjaTrader feed does not have $DXY at all)

 

 

 

 

2009-11-11_1834

 

So, are we there yet??? Damn close if you ask me

 

TTD here

Thursday Nov 12th

 

 11/12/2009

Futures approx. BO

 

 

Daily Range Projection

Low

High

/ES

1093.50

1105.50

SPX

1096

1107.76

/NQ

1777

1798.25

NDX

1767.19

1788.24

/DX

75.030

75.495

11:33AM EST DDT here

While K. is secretly working on new post, I’d like to offer you great video from


innatedc

 

 

 

 

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