I believe that a major market downturn will coincide with a great strengthening of the dollar index. So, it's a good thing to watch. Today, I have redrawn the lower trend line as strictly as I can on the weekly chart (yellow) in an effort to see just how much room it needs to fall for a strike.
Furthermore, I have added a horizontal line representing the low made on March the 9th (green). And interestingly enough, we are poised just above their very dangerous intersection. 94.65 is the number to watch. Today, we fell as low as 94.83.
At any moment, I expect the dollar index to reverse quite dramatically and US equities with it.
Furthermore, I have added a horizontal line representing the low made on March the 9th (green). And interestingly enough, we are poised just above their very dangerous intersection. 94.65 is the number to watch. Today, we fell as low as 94.83.
At any moment, I expect the dollar index to reverse quite dramatically and US equities with it.