Today, Dow Jones Industrial Average is above the neck line of the peak of Sept. 2007 Shoulder- Head- Shoulder, as is also the DIA (since March 12). I wrote in the last blog about how this movement could be the 5th wave of the Elliott Wave. It is possible the Dow Jones Industrial Average could go up to 11,100. Today Dow Jones Industrial Average closed at 10,888. I see big resistance at 10,888 to reaching 11,000. Let’s see how it behaves tomorrow.
I would like to mention about US Dollar. US Dollar has been moving elevated uptrend since last Dec. Now, US Dollar is facing powerful resistance (Neck line of the peak of March 2009 Shoulder- Head- Shoulder). The key number is 80,550 (on DXC5 chart) We’ll see more clear view in few days. It is interesting that I just wrote very similar situation about Dow Jones Industrial Average chart. Dow Jones Industrial Average and US Dollar are figuring out the balance and then they’ll decide directions.
I had a conversation with my husband about “The Big Short” by Michael Lewis. As I wrote, we are #18 on hold lists at the library. My husband said “If we wait another couple of month, it would be half of the listed price (now $16) on the Half.com or why don’t we wait till get the book from a library.” I thought he is cheaper than I thought! And today, Boom! He bought me a copy at Barns &Nobels on the way home. I have a lot of questions about CDS -I’ll love it.
Disclosure: No positions