Chart Posted Before
Hello Traders, if you guys recall I posted this chart on the Eur/Usd a couple days ago showing we were soon about to break down. As you guys know I have been following this chart forever with the channel analysis and once again it plays out to the T. The first target has been hit down there at 1.40 and next target is 1.38 area. This dollar strength should bring some weakness to commodities next week, so that will be my main area of focus to the downside. Look for ones that had failed breakouts on the weekly like CLF and I think those will be your bread winners. Steels have been week and some agg stocks have been weak like $MON. Look to short the weak energy stocks and again companies that benefit from a cheaper dollar. These companies will be like CAT, JOYG, and others. These companies sell a lot of equipment overseas so any strong move up in the dollar could vary well affect there sales. Have a good Labor Day and expect more analysis throughout the day. With the markets getting crushed all I can say its going to be GAME TIME TOMORROW. 123 break lol
Channel Guy Trader
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