tentative tuesday shorting, page-5

LOL Bringiton. I hope we can still be friends but I was just getting ready to post opposite thoughts to you when I saw your post.

I also have been watching the pattern on the USD but thought that it was ambiguous as to whether it was an ascending triangle or a rising wedge....the upper shadows on the daily candles made it a little unclear IMO.....

a rising wedge is very typical of a bear market corrective rally and we saw them many times during the last couple of years.

Last night we saw a long red USD candle which broke down from the pattern suggesting to me it was indeed a rising wedge. The DJIA last night bounced off the 55 day EMA after ending on the 55 day SMA the night before. Laundry uses a 55 day EMA and as we know is quite determined we in a 17 month bull move. SPX also came within a whisker of the 55 day EMA. So could we be about to see the USD continue on its merry descent and another upwards move in the markets ??

I was wondering if such weakness in the USD last night may give us a better than expected day on our markets today.