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In a message dated 11/16/00 2:46:28 PM Eastern Standard Time,
onwingsofeagles@xxxxxxxxxxxxx writes:
<< Wondering if anybody here believes this chart looks like an inverse H&S
bear trap or a simple resumption of downtrend with new lows to follow, given
the failure of MACD at the zero line and the low ADX. >>
Well, with the ECB actively (albeit unilaterally) defending the .8515 level
(3x last week they stepped in) I would expect some more upward action real
soon, although the ECB seems more interested in enforcing a floor than
pushing it up to parity right now. I'd be pretty surprised if our Mr
Duisenberg let it slip much more.
Jonathan
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