We found quite a few signs to affirm the bullish case during last Wednesday’s tutorial session, but to highlight just one of them, notice in the accompanying chart how each of the last three upthrusts created a new impulse leg. This is the way healthy bull trends are supposed to move, and the Dollar Index’s daily chart appears to be doing so with little effort. Pushing past last winter’s highs may require a running start or two over the next few weeks, but the evidence up to this point strongly implies that new recovery highs lie in the offing. If this is a true bull market in its infancy, the uptrend should be able to exceed last November’s peak at 81.44 without correcting the thrust from July’s 73.42 low.
