MI2 TD Chart Point: Dollar Top and Equity Downside
Last week, we noted: “The spotlight has shifted unmistakably to the US Dollar Index (DXY), which flashed a glaring TD 13 sell signal, possibly marking a significant turning point. The bearish indication could have profound impacts across various asset classes”. This week, continued dollar weakness is now creating cracks across the major US equity indices with bearish price flips on the S&P 500 and NASDAQ Composite (CCMP). While the Dow Jones Industrial Average (DJIA)—our “canary in the coal mine”—has already confirmed downside continuation. This is a critical signal that bears watching.
February 23, 2025