Thursday March 9, 2012
I will be out of town from tomorrow Friday until next Monday evening. I frankly don't see much happening other than what we outline below. I suspect the market will slowly put in a B Wave top and then begin a C Wave to the downside.
Thirty and Sixty Minute charts can be quite helpful in determining just where we are on a shorter term basis. We suppose the market will top in the next day or two and then make a C wave low.
The Dollar
The Dollar UUP was down the last two days supporting the move up in stocks. Here one can see the MACD bottoming, perhaps the dollar will now rally causing our C Wave in stocks to the downside.
We look forward to a visit to the booming oil fields of West Texas And frankly out hard working
research staff here at TMP can use a couple of days off....
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