Friday, February 5, 2010
US Markets - Feb. 5, 2010
Absolutely perfect. The dollar has performed exactly as expected...pushing above 80. An absolutely beautiful run. Barring any major debt default/geopolitical event over the next few days...EUR/USD should start to retrace this latest downside move. Upside potential is dependent on where the Euro bottoms. This retracement will be the last opportunity to climb aboard before things build up speed. Each time the markets try and rally back the dollar reigns things in pretty quickly. Monday Market Levitation would coincide with the EUR/USD retracement. On the next dip trip the DJIA will hit 9600. 2010 is looking to be much more violent than 2008. 2/5 short position complete. 3/5 short position will be complete early next week. Complete update and scenarios in this weekends commentary. Good luck and Good trading. -Dio.
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