The Dollar slightly breached the lower trendline today making an intra-day low of $76.76, sale and then closing at $76.91. The long-term outlook for the Dollar is growing more long-term bearish everyday. The Dollar NEEDS to reverse before making a lower low at $75.63. If you are bullish on the Dollar, cialis now would be the time to buy in, help with a stop set at that lower low, and if you are were bearish, I would wait until that low was broke before entering into a new trade, now would be the time to take profits if you were short. We are at a major inflection point here, the Dollar either collapses now, or reverses hard.
The number of possibilities for a primary count are growing, not decreasing, which makes picking a primary count tough when all the options show some promise. Elliott wave is about eliminating those different options that break rules or guidelines, but as of now, all are possible, and in my opinion are close in terms of odds, no one count is standing out at this point of time. For me, this is the time to be in cash until odds start increasing to my advantage.
For now, the longer-term trend is up, and the short-term trend is neutral. The SPX needs to start making higher highs, or lower lows to change the short-term trend. The SPX flirted with the lower channel line for most of the day, finally closing above it.
Breadth closed at 2.11:1, advancers on 1.25B shares trading on the NYSE. As the market was closing volume was only at 700M, but after the final numbers came in, it closed at 1.25B, that is a huge amount of volume at the close, very unusual.