InvesTech - Chart of the Week - 06/04/09
Charts courtesy of James Stack InvesTech Research
The U.S. dollar continues to soften but is still above the lows seen in December 2008. We are following this key indicator closely. If the dollar is able to hold up at these levels, then it becomes more likely that the U.S. will continue to lead the world economy out of recession.

As the month of May came to a close, the Coppock Guide finally turned upward and confirmed our earlier projection. Forward testing after today’s strong move in the stock market shows the Coppock moving higher again in June. The Coppock guide is climbing up from the most oversold level in 70 years and since some of the best buying opportunities have occurred at negative extremes, we will be monitoring this indicator closely in the weeks ahead. Stay tuned for new updates.


