$SPX is candles, U.S. dollar is the black line. Not always perfectly correlated, but clearly that’s the game for now.

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U.S. Dollar

(see, pretty blunt)

Very short term but still, possible falling wedge — a bullish reversal pattern — is developing on the U.S. dollar chart. Imo dollar going up won’t necessarily hurt gold because in the last couple of weeks both gold and the dollar were advancing at the same time, at least a few times.

Click to enlarge

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I looked at this chart on June 22nd. I wasn’t sure if the pattern that was building was bullish or bearish. It didn’t exactly break out, there’s now an extension to that ‘whatever-it-was’.

And I’m now leaning towards it being a bull flag (= falling wedge).

Dollar daily cycle low is due any day now. Today is day 20 of the daily cycle that usually lasts between 18-28 days according to The Smart Money Tracker.

If current dollar-market relationship doesn’t change, then U.S. dollar going up would be bearish for the market.

The post $USD Chart, June 30th appeared first on Phantasmix.com.

So I guess a bear flag – or a rising wedge – it is.

Regardless of the type (reversal or continuation), rising wedges are bearish.

$USD down = stock market up.

The post $USD Chart, June 22 appeared first on Phantasmix.com.

In the past, industries whose profitability rose 12 months following the rise in the US dollar were:

1. pharmaceuticals
2. food products
3. insurance
4. household products
5. commercial banks
6. tobacco companies

These are consumer driven industries……

All of the major commodities trade in US dollars. If the US dollar is rising you can bet that the global price of commodities is falling. This fact is often overlooked when investors try to find reason for share value declines. Crude oil and gold have recently fallen from record highs. These drops correlate directly with the rise in the US dollar. We are in the heat of the American economic slowdown. As the ripple effect from the sub prime fiasco continues to expand, we urge all of you to remember the following statement: The United States fell first and fell the hardest. The world will look to them to rebound just as strong and just as fast.

PinnacleDigest.com

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I’m buying small amounts of gold and silver bullion: not enough to seriously hedge anything, just for the peace of mind. If there’s ever famine and depression, this should hold us up for a short while

Physical bullion can be bought from Kitco, mints such as NorthWest Territorial, on Ebay or locally from a bank.

Scotia Bank sells precious metals; TD Bank sells Precious Metals Certificates.

The post Well Dang, Looks Like the Dollar is Doomed appeared first on Phantasmix.com.

U.S. Dollar to Canadian Dollar Exchange Rate – 3 Month Chart
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So the U.S. dollar suddenly – in less than a week – gains what was lost over a course of a month. Is this a joke? With all the financial problems in the U.S. and quite strong Canadian economy (just reported better than expected retail sales and unemployment steady at the lowest level in 30 years), it’s obvious that the U.S. dollar should continue dropping against Canadian dollar. Especially since U.S. $ is still going down against all other major currencies. So the Canadian buck was singled out for the rescue operation. (Do you think Bush’s devoted friend Harper has something to do with this?)

Conspiracy theories aside, if this is not blatant manipulation, I don’t know what is!

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