DXY Speculation I think DXY is about to go into ranging mode between the two zones in the short term. Also, about 2/3rd of an inverse head and shoulders pattern has been formed. And keeping the recent CPI numbers in mind, I think - on the longer term - the red zone won't hold and it will breakout. On the even longer term, if the FED doesn't surprise us with a cut in March, I think DXY could reach the 105.800s (2nd largest spike on the VP). DXY - 1D {image}
It seems I was off in the DXY analysis. It's ranging but not where I thought it would be doing it.
I thought there would be a little bit more upside and that I could potentially short the NASDAQ/S&P, as both are HOT.
But apparantly they're both made out of tungsten
.So far I can't really see the DXY having a huge impact on the indices as I thought it could have. Every dip gets bought, and Apple, META and Amazon just put out some positive earnings and revenue. NASDAQ f.e. just shrugged off yesterday's huge dump. Glad I changed my mind from short to long early in the session. Maybe I'll stay long the whole year.
NASDAQ (MNQ) 4H
P-shaped volume profile. Sign of higher price acceptance???
On the longer term there's a capital B-shaped profile. Could be a sign of price continuation.
