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On 10/26 I ask “has the Dollar shrank enough” as it was hitting Fib support and discussed that a Wave 3 up could take place (see post here) . Since that post an unimpressive rally has taken place as the Dollar has moved up just 1%. For risk assets (stocks and commodities) to be in big trouble, the resistance at (3) has to be broken to the upside!
If the 79 level is broken to the upside, capital protection will be key and if you are an aggressive investor scoring on defense will pay off BIG-TIME!