Downside is Imminent - The Dollar is about to Strike Back!
The past few weeks we've been having a shimmy down with the DXY. NASDAQ called its top back around July 13th and hasnt looked back since. Everytime we are about to have a down move, DXY does what I call the, "Dollar Dump." The Dollar Dump is a warning sign that DXY is spring loading to rocket up which means that indexes go down. So if you see several red candles dump several days in a row, beware! The Downside is Coming. This is only seen as a pullback so don't expect a mighty flash crash like March, but don't expect kindness either. The NASDAQ has been slowly going down for a while, so we expect numbers to be on the lower end of 10,000. We suspect this will likely happen this thursday-monday, after the Fed meeting. The last time the dollar dumped? May 26th-Jun 10th. When did the Indexes go down? June 11th, the day after the Fed Chair meeting.
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