Loading ...DXY death chart
DXY is well overbought. This has only happened a couple of other times in modern history and each time the DXY collapsed. Will this time be different? Crypto is starting to smell it today. Metals will be next. The falling DXY today is what is holding the stock market together.
As I described in detail on Oct. 10th (https://goldtadise.com/?p=5544110) the dollar has topped and is heading lower. Today we broke the 50 day. Based on a number of charts, gold, silver, the dollar and individual mining stocks, it is likely we get a quick bounce in the dollar tomorrow or Friday. After that, it should be heading down towards the 200 day which will probably be around 105 by the time they meet.
I hope you are correct. I believe the FED will only raise by 50bps next week going into the election and not 75bps to signal a slowdown in the pace of rate hikes. They will say we believe inflation to have peaked and will start moderating. This should set off a bit crypto, metals and stock run as DXY tanks.