CNBC Viewers Expect More Gains For The Dollar

You would think that after an unprecedented nine-month run higher without a pullback, the most extreme overbought levels ever recorded in the currency, and rampant pervasive bullishness would be enough reasons to be cautious on buying something.  Not for CNBC viewers and the U.S. dollar though!  According to this poll on CNBC’s website 80% of those polled expect the dollar to hit parity with the Euro either in March or by June, and 90% expect parity sometime this year.

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Source: cnbc.com

The fact is the U.S. dollar looks like silver in 2011, Bitcoin in November 2013, or 3D printing stocks in late 2013, or maybe oil in 2008.  Or numerous other parabolic charts I could go on and on listing.  It looks like a terrifying parabola that is going to crush those late to the party.  The other two parabolic surges in the dollar were destroyed after they topped, and this parabola looks far worse.  In my view if you’re still bullish on the dollar here you are ignorant of all parabolas ever recorded in the history of the markets and you need to check into parabola rehab before you get yourself into serious trouble.

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