All kidding aside, the Greenback may get some profit takers come in, but I think the markets are coming down. On March 16 I wrote that there was no way the markets were not going to test the new lows they made, when the world was coming to an end a few weeks ago. Actually, that would be a good study if someone has any info on that...has there ever been a bear market where a new low was not tested?
I drew this chart with my trade triangle program and I would be surprised if a new down triangle is not issued soon. I am a big believer in Fibonacci numbers. This particular retracement just got to 23%...and we are showing some signs of, if not exhaustion, then consolidation. (Clicking on the charts give you clearer views):
We have to remember that this is still a bear market...if you have any doubts, here is a starkly different look:
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