Here is a multi year downtrend of the $NDXE/$NDX (log chart). It flipped the 50 week MA as support and closed last week above the downtrend line. This could suggest a relief rally in tech or a slowdown in FATMANG (FB, AAPL, TSLA, MSFT, AMZN, NVDA, GOOG). I favor the former.
Many people look at this chart and start their trend line in 1981. If you start it at the 1987 peak, you get more reactions including the one we just had. Is this time different? we closed above the 200 month moving average for the first time ever. If that is flipped as support then this time is different! I will also say that the inverse head and shoulders...
This log chart shows a 40 year channel of the US dollar. I believe the fun is over for $DXY. Apparently you can't increase the money supply by 50% in two years? Monthly RSI hit 72. We are about to see how transitory inflation isn't.
It's not a coincidence that $BTCUSD is green already today. Look at this perfect distribution on $DXY. We have broken this parallel channel we've been trading in for almost a month. This should lead to a rally in crypto and equities.