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A question regarding quantitative easing--Perhaps someone can answer this: If the Federal Gov't hits the debt limit without an extension or such, would the buying of bonds under the quantitative easing program stop? thanks/LDA
There used to be a "plunge protection account" that used to step in from time to time. Do they still exist? Interesting bit on China but even they are not going to move on that any time soon are they? The wave practitioners that follow gold must be seeing some interesting things today and perhaps they would be kind enough to comment? Thanks LDA
Yelnick et al, What are we to make of how the dollar, commodity prices, bonds and the equities are behaving? At this stage it seems like the dollar should be moving higher even with the higher crude. There are a lots of stories that some large macro/hedge fund is closing large positions in some of the ag markets, currencies and brent crude. Could the wave practioners offer up a count on the dollar index? Thanks/LDA
Toggle Commented Feb 23, 2011 on Buy The Dip? at Planet Yelnick
The dollar index held trendline support and bounced smartly. Brent crude oil which had been up to $103 is ending the week just at $100. The dollar has a tendency to go up early in the calendar year-not always but often. For a period of months, the stock market (s&p 500) was moving opposite the dollar moves. There are a number of commodities that do as well--at least in shorter time frames like a week. Question-does the wave pattern on the dollar suggest that there is an up wave coming and would it/could it be counted as a "3"? On your weekly chart of the index the move from March of 2008 to March of 2009 looks like a 5 wave up. That is followed by what lloks like a 3 wave down that ends in late 2009. Another 5 wave up that ends in June 2010 which some might call a " 1 of 3"? A pristine looking 3 wave down that ends in early November of 2010. From early November to late November what might be a 5 wave up followed by and abc down which brings us to this past week. I would greatly appreciate if the proper wavers here could have a look at it and comment. Thanks/LDA
As I see it, both factors are principal price drivers. The underlying supply/demand shift caused by weather events and the new(er) part of the demand components-ethanol AND the liquidity provided by QE and the subsequent drop in the dollar all have an impact. Both factors are at work. Current prices would not be where they are if not for both factors being at work at the same time. QE was like puring jet fuel on fire given that a number of food/fiber commodities were getting snug before July 1 of last year. How much are prices higher because of QE is one of the best questions ever asked. LDA
Do any of you have a elliot wave count on the dollar index? It seems like the move from March of 2009 has been opposite of the stock market as a general rule and it seems like the dollar index made a 5 wave move up from March of 2008 through March of 2009. Does anyone there have a view on where the dollar is in the count going back to February of 1985 when it made the high? Thanks LDA
A few weeks back I asked a question here with regard to the S&P 500 cash chart and I'll ask it again...Does anyone else think that it looks like a head & shoulders bottom on the daily S&P and doesn't that tie in with Elliot Wave bottoming price action?
A question for the technical analysts...does the current chart of the S&P 500 look like a head & shoulders bottom?
Toggle Commented Aug 20, 2009 on Final Surge? at Planet Yelnick