Watch for deceleration and a rejection of the 50/60 , bottom of penant, and 1307-1315.10 area. This should coincide with an oversold .
Based on Martin Armstrong's Socrates model, if we close below 1315.10 on the daily we could see a move down to 1270. That line must hold for us to buy.
- To head higher long term we must close above 1362. This is a KEY monthly reversal level and will determine whether we make new highs or new lows.
- The next target is a close above the weekly reversal around the 1391.5 area.
- I will hold this for the next year or two, continuing to scale in on pullbacks until the dollar bottoms out late 2017 into 2018.