http://www.economist.com/businessfinance/displaystory.cfm?story_id=14700644 Good article on how it also effects other countries.
I was asked how low it could go. Well we already know 70.00 is the low for the index so far. The US $ has few friends or bulls, making it a candidate for a contrarian rally, but so far this has not unfolded. A break over 76.00 IMHO may signal the $ rally has finally arrived.
AN eventual break of 70.00 will mean there is no known support level as it has never traded below there.
Timing may be difficult but we have our parameters....a brfeak below 74.00 may mean another down leg needed before rally can take hold.
SPX 1112 area on closing basis important R. RUT (small caps ) underperforming mkt.
D
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Dollar is going to 35, simple economic law of too much supply no real demand, it will continue to spiral lower, even the US govt is not supporting it. Beware even China is bailing out and buying gold!
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