Tuesday, December 9, 2008

Biiwii on the S&P 500 and the US Dollar Index

Gary at Biiwii has been tracking the markets to my liking lately. here are two new posts in which his outlook seems to broadly agree with mine:

So normal it's scary -- at this post he extrapolates a couple chart patterns to arrive at an initial target of 1080 on the Five & Dime. though we seem to have arrived at the numbers differently, 1080 is darn close to my 1100 projection.

Uncle Buck - In for a checkup -- here Gary soundly appraises the health of the USD. the chart includes several 'technical' indicators, that appear to be flashing somewhat bearish signals. not that I have any idea what most of the indicators do, but visually they sure do look less than bullish now. I could see the USD falling off a little here. whether it dips as low as some would hope or expect is another story. as far as I'm concerned the Dollar is still acting out the Script I originally put forth back in September.

both of these posts are well worth reading. do check them out when you have a couple minutes.