Morning Update: DXY coming into support, THEN BOOM!

15. Nov. 2022

I have started building my DXY chart. This is the US Dollar Index. For fans of correlations....feel free to speculate on the implications of a potential move of this magnitude on the US Indices, Bonds, etc. I will provide more context...but I caution you on hanging your hat on correlations (as I am not a fan of them). Nonetheless, I will continue to fill in the various sub waves, but on the surface, it appears we may be coming into a bottoming area.

I will point out one thing...and this was the larger reason for me posting this chart this morning, the daily "Hidden Bullish Divergences" that are building are kind of scary for anyone short the US Dollar.

Best to all,

Chris