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August 10, 2010

The Unexpected

The pop in the dollar index this morning is stirring up our near-term cycle interpretations, so I thought a quick mid-day post may be in order. The DX rally is potentially forming a daily swing low (assuming the gains hold through the day) and has also broken the cycle's downtrend line. Stockcharts.com only updates the DX chart once per day, so I have no picture to show you at the moment. However ...

 

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