Judging from a technical standpoint, the USD may lose some steam in the coming weeks. I for the life of me cannot figure out why investors would be flocking into bonds to make less than the inflation rate just to keep their dollars safe. My neighbors investment adviser saw this coming and moved all his $ into bonds just before the bottom fell out. Wouldn't we all have liked to have seen this coming?
I will be looking at Cable this week as all of it's crosses look like they are in the oversold area. I once asked a leading CFA what he likes to see as far as chart patterns. His answer still rings in my ears to this day, "I like to see long wicks." We have plenty of them to choose from this week. It is sure to be a wild trading week again.
Never risk more than 3% on any one trade. Preservation of capital is key. Live to trade another day.
Jeff
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