U.S. Dollar IndexShort
Bullish on DXY = Bearish on Stocks
Double bottom formed very nicely along with hourly RSI at very oversold 30rsi levels, it has been down their for a while. With the news of rate hikes rising from .25 to .50 also I'd expect with the jobs report on Friday the last catalyst to confirm a strong downtrend if it dosent happen before due to the market being forward looking.
Bearish on SPY right now until possibly the May FOMC meeting.
Bearish on SPY right now until possibly the May FOMC meeting.
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