White vertical = RSI over bought >73
Green vertical = Spx market bottom
I keep hearing all over," dxy is over bought, oil is falling, market recovery soon". Stumbled on this correlation, DXY/USOIL RSI >73 on the weekly = prelude to a market bottom since 2000. In all reality, this market is like none we have seen in decades so this time may very well not work like it has before. but it does seem like either way, we are not very close to a market bottom yet.
Green vertical = Spx market bottom
I keep hearing all over," dxy is over bought, oil is falling, market recovery soon". Stumbled on this correlation, DXY/USOIL RSI >73 on the weekly = prelude to a market bottom since 2000. In all reality, this market is like none we have seen in decades so this time may very well not work like it has before. but it does seem like either way, we are not very close to a market bottom yet.