Monday, July 13, 2009

US Dollar Index Bear Flag!


Setting up in a bearish looking flag pattern. Watch out ALL assets if this starts to breakdown!! We could see a huge rally in the markets, oil, gold as inflationary pressures are back on the table.

13 comments:

The Average Jay said...

Nice chart. Thanks for taking the time to post it up there. Will make me watch my shorts alittle closer.

txchick57 said...

I get a huge yck out of all the bearclownz on Twitter. All trying to relive the glory of last year. Kinda like those 2005 homebuyers trying to get 2005 prices. That was then, this is now. I'm long and leveraged.

I like your blog btw and your ability to see what is there, not what you want to be there. Carry on.

Stewie said...

txchick:

2008 was a feeding frenzy for the bears and i must say that i personally had my best year ever trading in 2008. but this year it's different, and you feel like many 'perma bears' are trying hard to bring back the 'good ol days' but the charts say the bulls are not gonna go away for WHATEVER reason. the bulls keep defending precious territory.

Stewie said...

hi avg. jay: i will keep posting all charts i deem important to try and figure out this market: i post bearish and bullish charts in ORDER TO MAKE MONEY and that's my ONLY purpose.

NYC Trader said...

Watching TBT for a trade.

txchick57 said...

Exactly. I get really tired of the bitching about the PPT/Goldman in the last 30 minutes every day etc. Folks, IT'S FREE MONEY! You know it's going to happen - ride along! If you were driving behind a Brink's truck that was spewing out $100 dollar bills, would you refuse to pick them up because they were littering the highway?

Blue said...

What happens the day the PPT doesn't show up to save support and you bet good money on them being there?

I have a hard time taking the "PPT end of day futures buying to save the market set up" as reliable. It's a total crap shoot to think it'll happen on big down days. Last week (twice) was the first time in a LONG while that I believe they actually showed up. Their repo desk hasn't had any real firepower left in it for a while now.

Greenlander said...

I generally agree w most of yr posts but this looks like more of a basing pattern to me. The fact that MACD and RSI keeps holding strong seems a bit more bullish for the dollar.

But yes it could easily fall off

Stewie said...

hi green: we should see resolution within the next few days! It should be fascinating regardless of the outcome. from a purely technical standpoint, this is a bearish chart in my eyes. lol.

txchick57 said...

Took your fuqi at 15.80. Most excellent. Nice of you to give these for free.

Stewie said...

are you on my twitter?

Stewie said...

good stuff TXchick. FUQI looks great here.

txchick57 said...

Yes, I'm following you.

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