Dollar Outlook Still Negative
05/26/2009 11:39 am EST
The dollar index dropped sharply last week, consistent with the top formation we discussed on March 13th as the bearish signals from the RSI have been confirmed. The 50% has been reached with the 61.8% support now at 78. The weak dollar is having an impact on all of the major markets. Resistance is in the 83-84 area.