DXY cracked support near $77 and fell all the way from 78.19 to 76.86 since Friday. that is a big move. The 38% retracement off of the 74.17 low is 76.73. that would be a nice natural place for this correction to stop. The 50% is 76.24 and the 61.8 is 75.75. There is a lower TL off of the bottom that could come into play and it trends out to mear 75. I am not sure if this is what it is after. I'm sure the UUP holders are a bit miffed this am. I am not sure if the correlation between the dollar and the markets is back on or not, but it may be. We'll have to see.
Gold is bucking up again, but this move is under the microscope as well. If gold fever hits again, look out, but if the profit takers come out and are a bit gun shy, then the downside move may not be complete. This may be a B up of an ABC corrective. If so there is some more to work off soon. If not, hey, what's wrong with gold $2000? Gold has lower TL support that will not allow it to get under 1050 IMO.
SPX daily - Throwover of the upper TL and resistance from the upper BB comined with S Sto topping, RSI at divergence, CCI divergence, ADX position and other issues such as SPXA50 over 400 lead me to believe this move up will be short lived. I am not saying it can't make a move if they want it to, but upside surprise should be limited.
SPX 60m - Here you see the wedge formation that is clearly ending and the overthrow in the green ending wedge. Indicators are overbought. RSI may be taking out it's TL, but that may not matter given the other embedded indicators.
I'll continue updating charts and trying to post some relevant stuff for you to see as it arises. Should be a good week for news. I trust you all had a good weekend and hope you have a great week.
GL
