The Last Post

Last post for the year; I actually was thinking of posting some clever comments on a monthly chart until I remembered the words of Warren Buffett who said (roughly) "the road is littered with the bodies of those who attempted to predict market direction on a macro scale" ( and he would know this year!) or as I have elsewhere so succinctly stated; " who cares what will happen a week from now". Therefore in keeping with the time frame I deal in, here is a 240 minute chart for your perusal, but remember "all opinions are my own, and if you don't follow them you only have yourself to blame!" :-)
Happy New Year!

The Dollar's heavy burden

Regular visitors to this page are already anticipating the end of recent dollar strength, compliments of the kindness of strangers, and a return to a collapsing dollar, as those same strangers scramble to diversify. December 13 marked the 13th rate rise in this tightening cycle, while the current yield inversion tells us this cycle is all but over - and the "Bernanke test" is soon to be upon us.

Nowhere and fast...

Let's have a look at the $DXC today in a daily time frame just to remind ourselves where we've been and where we are likely going... have a close look at momentum, another stand-in for volume in FX markets, and tell me what you think is next. I imagine we will pay lipservice to 90.70 and 90.50 (again) on the way down, and these may make good interim targets. On the other hand, HIA flows have 3 days to run: in case some "last minute shoppers" try to squeeze through the door, you may want to give them room...