MASTERING
THE TRADE
ORIGINAL, INTERACTIVE
SEMINAR ON TRADING USING
TECHNICAL ANALYSIS
EARNINGS
ESTIMATES
U.S.
QUOTES
U.S.
CHARTS
TECHNICAL
OPINION
CANADIAN
CHARTS
SEC FILINGS
BROKER
RESEARCH
10/5/98 U.S.
DOLLAR INDEX (DXY)
Points to Watch: Watch the U.S.
dollar for clues to the future direction of the U.S. market. Dollar broke down through
long term up trendline in late August. Current swing down in dollar index is to same
level as November 1997 down swing. A further drop through this level would be
bearish for the dollar and stocks. A break through the 50% fibonacci retracement level at
94.3 would confirm a change of trend in the dollar. A falling dollar is bearish for
the stock market as foreign investors are less likely to buy dollar denominated assets,
including U.S. stocks. Foreign investors have been one of the key legs upon which the
1990's bull market has rested.
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Last modified: April 02, 2001
Published By Tulips and Bears
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