Energy holding on
Updated
The DXY normalization is far too good. Make good use of it, and make improvements on it, as you must. The accuracy, in even such long timeframes, is incredible. For the retracements, the magnet tool was used, and the retracement is in fib scale. Therefore nothing was placed by chance.
Also look at the short-term accuracy.
Look at the standard SPGSCI. It is lying a little.
I have to admit that on the standard chart of SPGSCI, the 2.618 retracement from 1990 to 1998, points at almost the precise top of 2008.
So I guess when the standard retracements don't work, transform them. Or perhaps the recent extreme change in dollar value justifies normalization.
The point is: the standard price of SPGSCI, as well as USOIL and other commodities, make sense when talking about the US economy. The 2008 peak in oil was not a worldwide energy crisis.
The balance changes now, when the price of commodities are defined from the worldwide economy strength. With China now being a substantial energy user, not just the US.
The DXY transformation just takes into account an average world currency price. An imaginary "world currency" (coming soon in your favorite color)
Tread lightly, for this is hallowed ground.
-Father Grigori
Also look at the short-term accuracy.
Look at the standard SPGSCI. It is lying a little.
I have to admit that on the standard chart of SPGSCI, the 2.618 retracement from 1990 to 1998, points at almost the precise top of 2008.
So I guess when the standard retracements don't work, transform them. Or perhaps the recent extreme change in dollar value justifies normalization.
The point is: the standard price of SPGSCI, as well as USOIL and other commodities, make sense when talking about the US economy. The 2008 peak in oil was not a worldwide energy crisis.
The balance changes now, when the price of commodities are defined from the worldwide economy strength. With China now being a substantial energy user, not just the US.
The DXY transformation just takes into account an average world currency price. An imaginary "world currency" (coming soon in your favorite color)
Tread lightly, for this is hallowed ground.
-Father Grigori
Note
The retracement I mentioned that defines the 2008 peakThe normalized chart shows a very different picture for 2020-2022.
Note
Biden: Look the cost of energy dropped. For US citizens maybe... I don't live in US so I don't know...Note
How didn't I see this before?Note
Interesting USOIL chart...
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