Loading ...USD Cycle Update
Looks like TC3 of the USD topped on day 19 and is moving into it’s short term Trading Cycle Low here. My chart compares this last TC, which was quite bullish, to the most recent bullish TC that topped as Gold made its last IC Low.
My expectations are that this should be a mild DC, given the current day count and a 38.2% retrace will break my TC uptrend line and perhaps test the 20ema.
As the USD moves into its TC Low here, Gold may bounce a bit, but if the stock market continues to correct hard into its expected low near the week of Thanksgiving, perhaps Silver and the Miners will continue to sell off as well. It really depends on how frenzied the stock market sell off gets but that is what happened into the late August ICL for the SPX.
