Phantasmix Stock Blog

US Dollar Index

I looked at this chart on June 22nd. I wasn’t sure if the pattern that was building was bullish or bearish. It didn’t exactly break out, there’s now an extension to that ‘whatever-it-was’.

And I’m now leaning towards it being a bull flag (= falling wedge).

Dollar daily cycle low is due any day now. Today is day 20 of the daily cycle that usually lasts between 18-28 days according to The Smart Money Tracker.

If current dollar-market relationship doesn’t change, then U.S. dollar going up would be bearish for the market.