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I don’t know if I have ever seen a more contrarian indicator than this new commerical from McDonald’s:


The Dollar, on a very long-term time frame, is about as oversold as it gets. In fact, it’s probably impossible to garner as much negative publicity as the dollar has received lately without reaching such an oversold reading. But MACD is positively diverging while the histograms are turing upwards (ever so slightly):

So, while the dollar may make new lows over the next couple of months, I firmly believe that it is in the process of forming a long-term bottom. And combined with the recent significant declines in real estate and stocks, our assets have to look awfully attractive to foreigners right now.

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