Dollar Down, Market Up?

The dollar has been dropping out of it's consolidation, piercing below 80.000 and appears to be headed for 79.500. This morning the dollar has trended below last night's chart.

A break of the 38% fib and fib-fan project it toward the 50% fib-fan line near the 79.500 level. Correspondingly, the SP-500 could follow it's trend and head towards 1180 over the next couple of weeks. Support could slow down this decline in the dollar, however, it would need to get to 79.000 before it begins to see a substantial supply. It may take that before we were to get a reversal.


Good Trading,

Klatuu