DXY
Here is just some additional analysis I did as it relates to the USA Dollar just for informational purposes and to support the fact that the NAS100 will continue to be bearish:
On March 16, 2008 @ 10:00 pm, the USA Dollar reached it's lowest point in history @ 70.68...at that point it registered a LOW on the 12 month chart.
Since 2008 the price has not gone back to that point and has been on an upward trend ever since.
In order to create a NEW HIGH on the 12 month chart it will need to break 121.020 the previous LH created on July 6, 2001.
In order for this to happen, every single timeframe below the 12 month will need to be making HL/HH's.
Below you will find a link to each chart along with the corresponding support and resistance lines:
1. The 6 month chart is coming from a LOW and has yet to created a new High
2. The 3 month chart is coming from an oversold LOW and is currently at an
overbought HH (confirming that the smaller timeframes will need to be HL's
HH's)
3. The two month chart is also coming from an oversold LOW and is currently at
an overbought HH (also confirming that the smaller timeframes will need to
continue making HL's HH's)
4. The H1 completed the firs HL/HH cycle and is in the process of completing the
2nd phase with all the Highs and lows falling higher.
5. The weekly timeframe is also on the same path towards the 12 month high
The links will confirm the pattern, however you can always check on your own.
What does this mean for the NAS100?
Well since the NAS100 and the Dollar Index have an inverse relationship, once the dollar keeps buying...the NAS100 will ultimately keep falling.
When you do a check on the NAS100 charts you will see that the larger monthly timeframes are all coming from HIGHS and it will only be a matter of time for the sells to be in play.
As usual please exercise patience...
Do proper analysis
Trust your analysis
I hope this info was useful to you all.
#aubersystem
#auberstrategy
#whywewait
#patience
#neverstoplearning
Be the exception...not the rule.