Wednesday, September 22, 2010
Deflationists get a positive signal....
See That Rumbling Sound is the Dollar Giving Way linked here.
I don't know, but I am pretty sure that if deflationists have a chance to be right, it would come after enough real smart ones begin throwing in the towel on a rigidly deflationary, pro USD stance.
As for Uncle Buck, here is an updated version of an NFTRH chart, also showing the euro and the gold/euro price for good measure. Unc's proxy, the UUP etf is breaking a comparable neck line today. We have a downside target loaded if this breakdown holds and if that happens, things are going to get mighty interesting in the coming weeks, and not in ways the bears would hope. Not yet.