As Bitcoin just tanked, I am expecting less speculation in the short term- probably more adjustments in the indexes, specifically the tech sectors.
Because of that, I believe a good hedge/negative symbol or member(or whatever you wanna call it) - dollar index, deserves to be researched once again.
So I attached the Nasdaq Composite in the chart as well, and I have to say it looks very similar 99 - 01 era.
Weak Dollar Index, and Omnipotent Nasdaq. And very worth noting is that DXY was hard stuck at .382 Fib level at that moment, and we are in an almost identical situation.
So my hypothesis is simple:
1) Very similar DXY performance
2) Super overbought Nasdaq Composite
3) Very likely to see interest rate rising
4) Less bond-buying as Democrats take place
Under all of these circumstances, I can't really find a refute that DXY would drop further - there is no room for falling, and the indexes have barely any room for further climbing.
Because of that, I am very positive/bullish about the dollar index, and I am already holding cash right now. If you want to trade more aggressively, you can engage some short positions either in Nasdaq (QQQ) or metals(especially copper, ridiculous climb).
If you like my idea, I would really appreciate any likes or comments, and I am open to any suggestions!
Salute,
Kujo, Qtaro
Because of that, I believe a good hedge/negative symbol or member(or whatever you wanna call it) - dollar index, deserves to be researched once again.
So I attached the Nasdaq Composite in the chart as well, and I have to say it looks very similar 99 - 01 era.
Weak Dollar Index, and Omnipotent Nasdaq. And very worth noting is that DXY was hard stuck at .382 Fib level at that moment, and we are in an almost identical situation.
So my hypothesis is simple:
1) Very similar DXY performance
2) Super overbought Nasdaq Composite
3) Very likely to see interest rate rising
4) Less bond-buying as Democrats take place
Under all of these circumstances, I can't really find a refute that DXY would drop further - there is no room for falling, and the indexes have barely any room for further climbing.
Because of that, I am very positive/bullish about the dollar index, and I am already holding cash right now. If you want to trade more aggressively, you can engage some short positions either in Nasdaq (QQQ) or metals(especially copper, ridiculous climb).
If you like my idea, I would really appreciate any likes or comments, and I am open to any suggestions!
Salute,
Kujo, Qtaro
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.