InvesTech - Chart of the Week - 07/27/09
Charts courtesy of James Stack InvesTech Research

The U.S. dollar remains soft as investors continue to focus on world equity markets. The dollar is still sitting at the lows seen in mid-December 2008. However, as the economy climbs out of recession, inflation expectations should remain subdued thus lending a measure of support to the greenback in the months ahead.

On the heels of another positive week for stocks, forward testing for the first four weeks of July shows that the Coppock Guide remains on an upward path. We will be monitoring this indicator closely in the weeks ahead as it climbs up from the most oversold level in 70 years.


