Notes on chart... also the long term trend lines
bisect the C-D lines almost exactly in the middle of each segment. I think third time the charm here, and this pattern repeats, to 107.62, and then the moment of truth again, bounce or really correct this time. I say really correct, why? SIMPLE AS THIS: Obama waiting until after November elections to take any actions on world problems. Wants to keep it as quiet as possible, and look very Democratic, so as not to upset any Democrats chances of re election this next Nov 4th. Yellen has been told (my guess only) no news is the theme, until after the elections. Everything is after the elections. problem with that is, too much pent up momentum to go lower, holding it back, way extended, should have corrected 10%-15% last dip, and did not. the price for pay this very intended political and monitary manipulation is a big drop down when it does break. Remember the butter v margarine commercial, "don't mess with mother nature". Well, don't mess (artificially manipulate currencies) with the fundamentals of an economy struggling to gain traction, and create jobs when so many are being eliminated by technology and corporate tricks to increase the bottom lines. Just way, way too many lowered future outlooks on earnings
this season for my taste. Sure some beat, but did you notice the outlooks volume
of downturns? Huge. September, October, and especially November TZA
options are my trade. Hey, but what do I know, let's all be careful out there. After this pattern confirms and completes, it will be like the Alladin song, "a whole new (trading) world".