SPX vs DXY Pointing to Deep Recession
Updated
Every time the DXY has peaked, SPX has hit a trough and vice versa, either near the exact same time, or within a period of months.
I previously posted this same comparison as it relates to Bitcoin vs. DXY:
And, if you zoom out and look at the 3 month DXY chart, we've broken out of a giant falling wedge, re-tested the top and continued up:
If we are in fact about to enter a long-term recession, the charts can be shown to support such a prediction.
I previously posted this same comparison as it relates to Bitcoin vs. DXY:
And, if you zoom out and look at the 3 month DXY chart, we've broken out of a giant falling wedge, re-tested the top and continued up:
If we are in fact about to enter a long-term recession, the charts can be shown to support such a prediction.
Comment
Updated added 1 month 50/200 Moving Averages:SPX's 1M 200 MA has been hit twice in the past, the last time was 2008 and we dropped well below it.
Presently we are higher above it than we've ever been, and a re-test would take us back down to 2k.
Meanwhile, DXY has a golden cross on it's 1M 50/200 MAs back in 2017 that is just now starting to come to fruition:
Comment
Update - about halfway to our 1st measured target on the lower timeframes. Note that the arrow on SPX goes down quite a bit further than its measured target. That is because DXY 3 monthly chart shows its own measured target going back to ATH of 1980s (see above):However - be aware that there still remains a possibility of a massive short squeeze before the real correction. But, for that to occur, look for DXY to re-test the area around 103.5
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