Wednesday, February 29, 2012
U.S. Dollar set for takeoff
The U.S. Dollar is set to move higher. Depending upon whether or not THE top of the bear market rally that started in March 2009 has been seen, this move will either be moderate or explosive to the upside. If we are indeed topping now, which is a very real possibility, then the U.S. Dollar index should take out its 2009 high of 89.62 in short order, and the SPX its 2009 low of 667. Regardless of whether or not this is THE top of the bear market rally or whether we have one more move up coming after a pullback, the top is getting close and when it is put in, these parameters for both the U.S. Dollar and the SPX will apply.