Dollar Peaked?


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This P&F chart courtesy of SharpCharts shows a high pole warning:

The high pole warning is given when a chart rises above a previous high by at least 3 boxes but then reverses to give back at least 50 percent of the rise. The reversal implies that the demand that was making the prices rise has given way to supply pressure. The pattern is a warning that lower prices could be seen in the future.

This is the first warning we’ve had that the run in the USD from 71 is to almost 88 is over and came as the FED reduced interest rates by 1/2 of 1%. Many inflation sensitive items were strong today:

*Crude oil finished up $4.77 per barrel to $67.50.

*Copper gained a stunning 22.95 cents to $2.0885.

*The CRB roared 15.42 higher to 274.34.


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