How I used NYSE TICK today w/ extremes ~ -1.000: In correction steep DT after news hit the wires 17:36 CET that US is weighing to limit US investors' portfolio flows into China, a move that would have repercussions for billions of dollars in investments pegged to the major indices; also they're apparently pondering delisting of Chinese companies from US stock...
Here's the DXY H4 Chart in which the suggested downward trendline looks more reasonable. Sorry for the confusion; I'm new here & am still figuring out the system:
www.tradingview.com
A disclaimer first: I am new here & still a novice to trading. Also, I don't understand much about Elliot Waves , except that I found Elliot's little booklet Nature's Law , 1946, wildly speculative (or esoteric, I should say), and philosophically misguided. Those who are interested in the mathematician Leonardo of Pisa (Fibonacci), might rather want to consult...
Dollar run seems to be over:
- Trade negotiations w/ China didn't lead anywhere & don't seem to lead to anything any time soon.
- Trump's legal troubles grow (tho Politico had this weekend that markets could rally on relief about an impeachment; but that's not anytime soon either)
- Earnings season is basically over
- Other majors (except GBP, of course :-))...
