I go by the charts, yes; but I also go by my B/S detector and at this moment my BSD is telling me "screw the dollar's target (though it's still in the zone), a predictable debt event in Europe - which conveniently comes at a time when USD needed some backers in the confidence game - is no reason to run to US dollars.
In this episode of As the Herd Sways, we find a knee jerk into the very instrument that was the subject of all those anti-QE screams and screeds, do we not? Is this not convenient for the would-be QEers? Will this not shut the anti-QE voices up for a little bit?
'C' down, if that is what it is, continues. It does not change the fact that the USD and its major competitor are each in deep doo doo. 'C' up for Uncle Buck or no...
