8th of Feb 2020
I feel that the US30 and (consequently the other Major US Indices); may now, Range within a Box; Similar to the Range that occurred between Oct18 and Dec18.
The floor of this Range is at about 28,077 and I link in with what I said earlier about Chart Patterns that tend not to fill.
and
Reversion to the Mean
I base this purely on Observation of the Structure and nothing else.
I still feel that the DXY or (USDX) will weaken, and, it is that weakness in the US Dollar which will drive the US Indices up rather than any more Fed Repo Operations or Balance Sheet Expansion, (infact the Fed could even tighten now and it would still not result in any meaningful Market weakness).
I feel that the US30 and (consequently the other Major US Indices); may now, Range within a Box; Similar to the Range that occurred between Oct18 and Dec18.
The floor of this Range is at about 28,077 and I link in with what I said earlier about Chart Patterns that tend not to fill.
and
Reversion to the Mean
I base this purely on Observation of the Structure and nothing else.
I still feel that the DXY or (USDX) will weaken, and, it is that weakness in the US Dollar which will drive the US Indices up rather than any more Fed Repo Operations or Balance Sheet Expansion, (infact the Fed could even tighten now and it would still not result in any meaningful Market weakness).