The dollar index is showing sings of life after dipping below 76.00 intraday on Thursday but not closing below that level. We have rebounded above Thursday’s high at 76.52, taking some of the immediate downside pressure off the buck. A rebound above recent stall points at 76.80/90 would signal a near-term dollar bottom is in place.
Just crossing the wires are headlines from Elliot Wave guru Robert Prechter. He sees the dollar index is bottoming out and will rise for the next year or more. He also sees stocks topping out and falling substantially below the March lows…Uggh.
