PJSimon, good McLaren link there.
That $US index is extremely interesting, as he says a good clue, but will it dive, or rise?
Certainly the sentiment is very bearish, and near a bottom that may well indicate a bottom is nigh.
It's double bottomed with the September 2008 low, and oversold on the weekly chart--but then it has been since May.
I haven't posted a weekly version of the dollar index (the daily is beneath it here), but it may show more clearly where it's at historically.
thursday trading, page-142
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Last
7,971.6 |
Change
-64.900(0.81%) |
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| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |