Posted on May 27, 2009 at 12:16 in Uncategorized by Pierre CharleboisNo Comments »

At this point the USD/Index is still pointing down.

In circumstances like this, the words of a colleague of mine run through my mind; “if it’s not going up… It’s still going down”.

It feels as if we are sitting on the edge of a turn with the COT sentiment at extremes and indicators highly oversold.  So I am being extremely cautious on direction either way at this point.

Wave 5 does seem to be missing, but forcasting its size is dificult in a highly leveraged market that is running at extremes.