This weekly chart makes me think the U.S. dollar is about to begin a Stage IV decline. Why would the $ be topping out? Lower interest rates and/or a recession on the horizon????
This looks more like a consolidation than a topping pattern – I’ve found that Marketsmith’s A/D rating is useful for ETFs, and this one has a B-, which means it’s not really selling off. If it’s selling off, you’d get a D or E.
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Mike, there are many ways to skin a cat when it comes to the stock market. If you truly believe based on your market experience that this is B- then that’s it for you.
Estimated GDP at 0.9% for Q3 published by Atlanta Fed.
https://www.frbatlanta.org/-/media/Documents/cqer/researchcq/gdpnow/RealGDPTrackingSlides.pdf?la=en
This looks more like a consolidation than a topping pattern – I’ve found that Marketsmith’s A/D rating is useful for ETFs, and this one has a B-, which means it’s not really selling off. If it’s selling off, you’d get a D or E.
Mike, there are many ways to skin a cat when it comes to the stock market. If you truly believe based on your market experience that this is B- then that’s it for you.