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Tuesday, July 12, 2011

Sector rotations, sideways action, and the $USD

The currency markets have the market freaked out, and the $USD nearly broke out yesterday, but as long as the $USD doesn't spiking above the upper $76 level again, there's no reason for panic. My $USD charts are for members only, so let's take a look at this sector rotation.

I'm sure I'm not the only technician who's been pulling his hair out, over the past few weeks, but once you realize everything is consolidating sideways in triangles, everything else falls into place.