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Chart of the Week: 06/15/2009 |
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The U.S. dollar strengthened once again this past week and continues to move away from its December low. Confidence in a U.S. economic recovery during 2009 are starting to take hold and this is helping to strengthen the currency. In order for government stimulus to work in full force during the months ahead, it will be important for the dollar to maintain this strength.
Based on forward testing after the second
week of June, the Coppock Guide firmly remains on an upward path for the
month. The Coppock Guide is climbing up from the most oversold level in 70
years and some of the best buying opportunities have occurred at such
negative extremes. We will be monitoring this indicator closely in the
weeks ahead. |
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Analysis by James Stack, InvesTech Research.
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