Well, wadd'ya know?

Back on March 8, I strongly felt that the Greenback was going to drop. And then a couple of days later, it it looked a little 'injured', so I wrote this post.

This last weekend I wrote that the Dollar was released from the hospital, even though I didn't exactly expect Geithner's plan to be so market-moving.

Today, the Dow was up almost 500 points...the Greenback?...it finished almost unchanged. Now take a look at this chart dating back to last July:



If this breaks, we are looking at $72. There's a lot of talk about how the Dollar is no longer being considered the 'rock', the currency that everybody wanted but is now shunned, blah, blah...

I JUST DON'T SEE IT, and will plan my trades accordingly. Name one other currency that anybody would buy long term versus the Greenback?



p.s. These are the technical numbers that came out on Ino.com around the time of the initial drop: As discussed before, a short term top is in place at 89.62 after the dollar index completed a five wave impulsive sequence (81.62, 79.63, 88.24, 85.64, 89.62) and the index is now correcting the whole rise from 77.69. We's expecting some strong support from 86.81 cluster support (23.6% retracement of 77.69 to 89.62 at 86.80) but after all, the key level is 83.58 cluster support (50% retracement of 77.69 to 89.62 at 86.65).