I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Wednesday, March 24, 2010

Is That a Dollar In Your Pocket or Are You Just Happy to See Me

Many people in the EW blogosphere don't agree with my long term assessment of the dollar. That's fine. Most people don't agree with me on anything. I suppose I am a universal contrarian of sorts :) [is the word I am looking for contrarian or idiot?] ... anywhooooo.....

But just because I don't think the dollar is in a new secular bull market doesn't mean I think we can't be in a cyclical bull market.

That is that I have being showing in my dollar projections (such as here). I also reviewed by long term EUR/USD count the other day (Thoughts on the Euro, the Dollar, and a Long Term EUR/USD Count) and think the dollar rally / upward correction could last most of 2010 (at least in comparison to the Euro).

So even though I am a long term dollar bear, this is still the time to be bullish on the dollar and I think this move has further to run up. A look at the DX today shows a sharp breakout (viagra-ish, you might say) out of the consolidation last month

Corrected based on valid observations by Gumbo

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