Monday, December 28, 2009

Dollar in a trianlge 2009-12-28

While the current trend has been up for the dollar ($DXY) over the last couple of weeks, and this recent pull back is notable, will the breakout be up or down? and will the market (SPY) follow or invert the pattern? Take a look at the following triangles.



I've decided to watch for a break above the downward trend line as well as the horizontal support line. Keep an eye out since we've recently been in a very narrow range for SPY as well. A move is coming.

Klatuu