Friday, January 7, 2011

XLE shows the way?

The year end rally for AUD/USD has finished exactly 31st Dec. The odds are high the cyclical strength of the green back is here for rather a long period of time. 90 in the index (DX) should be taken this year without any difficulty.
But for the moment a quick look at the XLE ETF. The rally started in July is coming to the end, my preferred date for the top is around the state of the union speech (Jan 25th):

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