On the move: US Dollar Index

Been waiting for a 5 wave advance on the US Dollar Index and it seems it is here.

Although, I may be jumping the gun higher since it the confirmation will be on prices exceeding 83.43 (symbol /DX, US Dollar Index ETH). The reason being that the personality of today's advance is impulsive on the 15 minute chart. If 83.43 is not exceeded tonight (when Europe starts to trade), then short term bearishness will follow.

On the 15 minute chart, the 5 up move is in the works. Wave III is almost 1.61 multiple of Wave I.

Again, waiting for the confirmation for prices to exceed 83.43!

On the move: Treasury Bonds

These are short term charts with short term outlook. But it looks like the 10 year Bond is poised to move higher from here.

The mainstream media is already reporting that Bonds are in a "bubble". Retail Investor are buying Bonds at a historical level. One can anticipate the shock and awe (more so dismay) of Mutual Fund Managers who are looking at capital outflows. One possible outburst: "How dare the retail investors douse their fingers in Bonds! They will surely burn when this bubble bursts."

Buyer beware: There is some merit in this argument. "When" the bubble bursts, it will surely harm a lot of participants. But till then Treasury Bonds seem to go higher.

Many times the bubbles inflate further before bursting!

On the 15 minute chart of US Treasury 10 Year Note, it looks a running flat a-b-c correction is over and the trend is resuming upwards in 5 waves. A 3 wave correction will be the confirmation that prices will trade above 126.