We published the observed short term rally for dollar index last week (see chart below) AND IF the index can violate the swing high at 97.84, then we could possibly see dollar rally up to 98.30 before bears can be bold enough to attack. Again, longer time is still bearish and the index can reverse downtrend...
GBP Volatility is dropping off back down to the floor that is firmly set at 6.00
This has been a strong support for pound volatility for years now so buying GBP Vix at this level should provide relatively good gains from a bounce up to 16.00. It could go higher if there is new trade tensions with Europe and the Brexit saga continues
The and exit for this strategy was spot on at predicting the recent fall, we are now reaching close to the levels of the crash at the start of 2018. According to the cycle the market should reverse before breaking the previous low. Look at past charts of this cycle for more information.
With the Dollar Index at the extreme bearish sentiment on the daily, the index likely to make a short term rally in order to re-test some resistance levels
Please watch my new video where I take a look at the DOW and where we may go from here.
Plus I reintroduce the posibility of an idea I first presented months ago acutally being correct.
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In this video we take a look at the recent downturn and what it means for out two ideas.
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Bitcoin dominance chart by market capitalization. You probably noticed that over the past month, many violas went to growth by a large percentage. This can be seen in my trading ideas for some altcoins. Maybe it's not casual?
At the moment, we see that the dominance of bitcoin over other assets is still in an uptrend. % BTC dominance came very close to the...
We look to Sell at 7380
Trading has been mixed and volatile.
The trend of lower highs is located at 7382.
Positive overnight flows lead to an expectation of a firm open this morning.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop: 7415
Target 1:7275
Target 2: 7200
Stock Indices use a portfolio of representative companies (usually spanning major industries) to reflect the status of the whole stock market. There are basically three kinds: global, regional and national. Global indices include companies regardless of where they are traded. Regional indices include companies from a certain region and national indices include companies from a specific nation. Stock Indices are used to get an indication of the market's overall direction. Some analysts use them as a barometer of the underlying economy.
Indices can be comprised of tens to hundreds of stocks and each index calculates the weighted average differently. Some weigh the stocks equally (equal weighting), others take company size into account (capitalization weighting) and others use a hybrid method (modified capitalization weighting). Stock Indices are tradable entities themselves. A currency index is a measure of the value of a specific currency relative to other select currencies. Indices like the US Dollar Index or the Euro Currency Index are used to gauge the strength of those respective currencies.
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