Bullish on DXY = Bearish on Stocks

9 thg 3, 2023

Double bottom formed very nicely along with hourly RSI at very oversold 30rsi levels, it has been down their for a while. With the news of rate hikes rising from .25 to .50 also I'd expect with the jobs report on Friday the last catalyst to confirm a strong downtrend if it dosent happen before due to the market being forward looking.

Bearish on SPY right now until possibly the May FOMC meeting.