Dollar Rally Moving Sideways, About to Find Resistance

The dollar rally is moving sideways and I said a few weeks ago that the dollar etf could move to 24.75.

Here is the chart I presented on 6/17.

As good volume came in I believed there would be some strength in the rally but it is an extremely weak bear rally unable to really stay above the 20 day moving average.

Both the treasuries and the dollar are still in their bear rallies and I believe over the next few weeks this should reverse and the down trend should continue.  Notice today how the G8 meeting sparked a dollar rally in the morning and reversed towards the end of the day.  This shows the weakness of the dollar and the manipulation by the media.

The Chinese do not want inflation as they are the biggest holders of U.S. debt.  They will continue talking bullishly about the dollar but in reality they are diversifying away from it.

I believe that the dollar will reverse in the short term and treasuries.  VP Joe Biden has started talking about a new stimulus.  We have states who are in danger of defaulting.  We have a serious unemployment issues.  The growth of derivatives has exploded especially the holdings of Goldman Sachs.

These are just a few problems we are dealing with.  I like the insurance of real assets in the ground and will use this opportunity to buy more shares of companies with great assets.