(DXY & MARKET SENTIMENT)
for the upcoming week i am projecting DXY to keep its momentum in decline. the Highlighted area shows struggle of gaining upside momentum resulting in a descending triangle @ the 4HR Lower low resistance TP. Market sentiment shows a brief short-term pullback to the BULL side from this Area but should/will continue its bear momentum, this bearish momentum comes from the pull of the weekly low charted around @99.550 which will determine the new trend ERA after the release of FMOC interest rates.
(BUSINESS/PMI/ISM)-
Business Sector sentiment seems to be coming to a stagnant state, while smaller business optimism looks bearish this corresponds to mid and large cap company's projections for bearish movement with a chance to rise above once prices has reached the low area, sales reached a new high looking to slow down now may see back and forth movement. ISM services & manufacturing pmi areas both have interesting outlooks the gist I'm getting is these sectors will have more bearish momentum and have have more failed attempts at gaining bullish momentum with few shorterm pullbacks resulting in more decline to better position for strong up movement.
* ISM manufacturing new orders has seen most droppage although more droppage may come i anticipate the start of bullish momentum more than bear in this area
(Retail/consumer discretion)-
market is currently on an incline expected to cap out @ the 4HR high and continue to decline to lower low then retest upper limits. Consumer discretionary sector is curently on the rise expect to either cap out @ daily high but may cap out at the 4HR high. i think we will see stagnation while declining until the breakout, ultimately pushing down in a stagnant state until breakout.
(Labor Market/financial)- market reached a higher high from bull momentum then dropped now retracing upward but i think will be in a stagnant state with short-term bullish momentum leading to a significant decline down the line.
for the upcoming week i am projecting DXY to keep its momentum in decline. the Highlighted area shows struggle of gaining upside momentum resulting in a descending triangle @ the 4HR Lower low resistance TP. Market sentiment shows a brief short-term pullback to the BULL side from this Area but should/will continue its bear momentum, this bearish momentum comes from the pull of the weekly low charted around @99.550 which will determine the new trend ERA after the release of FMOC interest rates.
(BUSINESS/PMI/ISM)-
Business Sector sentiment seems to be coming to a stagnant state, while smaller business optimism looks bearish this corresponds to mid and large cap company's projections for bearish movement with a chance to rise above once prices has reached the low area, sales reached a new high looking to slow down now may see back and forth movement. ISM services & manufacturing pmi areas both have interesting outlooks the gist I'm getting is these sectors will have more bearish momentum and have have more failed attempts at gaining bullish momentum with few shorterm pullbacks resulting in more decline to better position for strong up movement.
* ISM manufacturing new orders has seen most droppage although more droppage may come i anticipate the start of bullish momentum more than bear in this area
(Retail/consumer discretion)-
market is currently on an incline expected to cap out @ the 4HR high and continue to decline to lower low then retest upper limits. Consumer discretionary sector is curently on the rise expect to either cap out @ daily high but may cap out at the 4HR high. i think we will see stagnation while declining until the breakout, ultimately pushing down in a stagnant state until breakout.
(Labor Market/financial)- market reached a higher high from bull momentum then dropped now retracing upward but i think will be in a stagnant state with short-term bullish momentum leading to a significant decline down the line.
