And now we wait for the DEATH CROSS hysterics to ring out across the land with great vigor in their “death of the dollar!!!” pronouncements. Finally… the “dollar collapse” cult will be vindicated because… they told us so… like for decades now.
So where to from here? Well, Uncle Buck is obviously suspect on the daily chart. Since it has already bounced I would not be surprised for it to hold below the crossed moving averages and drop again… raising the “dollar collapse!!!” din to great volumes. It’s a “DEATH CROSS!!!” and part of a “complex topping pattern” [ha ha ha] the Men who stare at goats charts will tell us.
USD does indeed appear to be turning bearish for 2020. Or at least it’s making a nice move that way. So what if we get a nice drop from the low-mid 97s and what if that jerks the “dollar collapse” cult out of hiding and into promotion mode? What if USD declines from the crossed moving averages and the most feared technical indicator ever imagined rears its ugly head? Oh my gawd, it’s a DEATH CROSS!!!
And what if USD happens to not lose the June low (green highlight) just yet? What if the usual bounce to screw the death crossers and all those who listen to them manifests from at or above that point? Just riffing here, but what if the real 2020 inflation trade resumes after that bounce?
Alternatively, what if Uncle Buck negates the fledgling death cross here and now and screws us all?
Of course, it could simply drop here and keep on dropping with the Death Cross bounce having already happened.
This post is not analysis. This post simply asks for open minds. The SMA 50 is crossing below the SMA 200. Once these guys…
…get a hold of the story we are likely to hear all about it. But there are then options for what comes next. Considering USD is a primary linchpin for a bullish 2020 global asset market scenario, it’ll probably be good to tune in to what is happening and tune out the noise.
Meanwhile for reference, here is the NFTRH daily chart used to gauge Uncle Buck vs. his fellow trampy global competitors each week.
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