Elliott Wave - Dollar Index (Monthly) - 26 Nov 10

     With so much attention lately on the dollar and currencies I thought I would use the next couple of postings to explore the US Dollar Index further. Today's monthly chart shows a complete five wave impulse pattern down from the July 2001 high.
     The impulse wave ended at the March 2008 low. From there we popped higher in a five wave sequence that I have labeled as wave (1) or (A). As of today we don't have a good reason (from the monthly chart) to believe that wave (2) or (B) is complete. Therefore, the action since March 2009 will be reviewed next time using the weekly chart.

Elliott Wave - S&P500 Cash Index - 23 Nov 10

 

If waves 'A' and 'B' are complete from the April 2010 high then we are now in either wave 'C' of an Expanded Flat or wave 'C' of a Triangle. This implies the minimum downside target is about 1120. First we will watch to see what happens at the TD Trend Factor target of 1158.85.

Long Term World Gold Index (Quarterly Chart)

Elliott Wave - 10 Year Yields (Daily) - 19 Nov 10