We need to chill the fuck out. Sideways for a long duration, and down eventually. Chart says it all. This channel seems very relevant, rsi near peak like past (pink verticle line).
WHile DXY goes rangebound sideways with lack of upward momentum we would effectively call this distribution, which money is moving back into assets. Assets should be forming bases during this time, and have slightly higher lows and higher highs.
Mania phase for assets will be upon the decline, which we would not have to worry about for some time.
Point here is that were going to see a continuation in this secular bull market (s&p).
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One could also argue this is the third wave, and after it completes we will be reaching the end of a business cycle, and maybe this is when the dollar starts to encounter real global competition as reserve currency. (2025)
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So today is the day of truth, to show if that line in the sand will be crossed. Peak dollar imo was today.
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weekly tweezer top likely.
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Fakeout Breakout?
Hope so, if that closes above then I would void this idea.
COol candle right now though, hope it gets more bearish!
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Forget the sideways business, just straight down now.