The March Dollar Index is down 16 ticks at 77.14 this morning as I write.  The included chart shows that the March Dollar Index is keeping with its latest cycle of rallying sharply one day, and having a mild pullback the next.  All of these trading days are maintaining closing prices and most of their trading ranges above the 5 day exponential moving average.  The directional movement indicators are bullish and more importantly, the ADX line is rising confirming strength in this bull move.  Commentary coming from the aftermath of today’s Fed meeting may be a market mover later today.  Yesterday, we attempted to write the March 79.00 strike call option for 130 ticks, but were unsuccessful.  For today, I will not reenter that order for now.  I will continue to recommend places to raise our protective stop as time goes on.  If the dollar has a significant sharp rally later today, I will probably come out and recommend writing that 79.00 strike call option, but for now, we will wait.

Followers of this letter should be long one March Dollar Index futures contract from 76.585, and be using a protective stop at 76.63 GTC. 

 David Hall

 The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness. The risk of loss in trading futures and/or options can be substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results.

 This newsletter is not intended for dissemination to the public without prior approval from David Hall.