Bottom is close, scale in if desired NEW POLL------>
Above is a side by side comparison of the Dow Jones Industrial Average (left) and the Euro-US Dollar currency pair (right). If you ever doubted that our market moves in tandem with the Euro.. here's your proof. Both are finding a little support along their 20 day moving averages (blue line) and for the Euro, it also coincides with a 50% Fibonacci retracement. The takeaway from this is that a weak US dollar = stronger apparent stock market. I say apparent because your actual buying power is reduced in the process but it at least makes you fell like you have more money in your account, and that is the stated intent of the Fed's latest stimulus plan. Good news for market bulls.