On Wednesday the Power of the Pattern reflected that the Dollar was nearing support and the Euro was facing resistance (see post here)

On this Friday morning ole Joe Friday shares some key facts… On a Micro basis the Dollar this morning is attempting to move higher out of a bullish falling wedge, at its Fibonacci 38% support line

At the same time on a Macro basis, the Russell 2000, NYSE Composite and Wilshire 5000 remain facing several overhead resistance lines.  

All resistance can give way and breakouts should be followed…Until it does, Resistance is Resistance until broken


How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past