Sunday, January 31, 2010
Dollar has a monthly 3LB reversal
DXY
Monthly 3LB reversals are major in the dollar because the direction change is good for a few months or longer. Just a FYI.
UPDATE: Added monthly S&P chart and info
The S&P is approaching the midpoint of its monthly 3LB reversal price. Closing below the midpoint price usually indicates that sentiment has changed. This weighs more heavily than weekly midpoint breaks.
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