DXY: An Awkward September 11th?
September 11th is an important day for so many Americans and one we will never forget. However is the DXY indicating a different kind of problem on that day? For now, I have a wedge that ends near that date. It could be Sept 11th or Sept 14th where the DXY may spring to life and cause a pullback on the market. This would not be good for plenty of johnny come lately's hoping to make a quick buck. However, this is perhaps what the thing the market needs to reach even higher levels than ever before because, why not at this point? A normal, healthy market pulls back and/or corrects itself, but we are not in exactly a normal, healthy market. With the inflated job reports, the deterioration of small businesses, global pandemic, and unemployment, it's only a matter of time before the market stops pretending everything is OK. How bad will the move down be? Hard to say. I don't believe this will be the mother of all crashes like March, but still a good opportunity for BTDs to profit.
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