Here is the SPX/DXY chart. A pretty simple look at a monthly fib channel shows we are at a pretty crucial level at the 0.618 here. I've circled the other times that price has interacted with it. On two of the occasions it broke through to later retest it as support. For the most part it has acted as resistance.
The SPX during these times, has basically moved sideways for many months afterwards. Of course there were some great selloffs with a few of the instances, which leads me to think it will follow the same course of action, long story short, more choppy volatility.
PS - In essence if this chart drops then DXY outperforms SPX, either to the upside or downside.
Hope this helps,
Andre
The SPX during these times, has basically moved sideways for many months afterwards. Of course there were some great selloffs with a few of the instances, which leads me to think it will follow the same course of action, long story short, more choppy volatility.
PS - In essence if this chart drops then DXY outperforms SPX, either to the upside or downside.
Hope this helps,
Andre