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Re: Dx, Ng/Lee *PIC*
In Response To: Dx, Ng/Trades ()

Yes DX is bumping up against 1st resistance at 75.50 and chewing through it. Note the RSI poking its nose above the 50 line resistance for the 1st time since January. And the Modified MACD crossing above its signal line clearly which doesn't happen randomly and tends to occur before a bullish cross above the 0 line signaling a bullish uptrending market. Both these are doing something 'different' that is bullish for the 1st time in 5 or 6 months. These internal indicators have a good track record. But the cross above the 50line and 0 line have not conclusively occurred yet and DX is at 1st resistance of 75.50 so the jury is still out but very much improved and suggesting an upside breakout. And note the recent tag of the RSI21 30 line which also signals a rally after and doesn't occur often. And we all know even a small move up in DX does kick the crap out of most commodities and the stock market. So definitely time to pay close attention to it as these cyclical rallies within a long term secular bear market in DX tend to last 7 to 11 months over the last 10 years. Even the small and short run up from last Nov to Jan trashed a lot of markets and that was nothing more than a dead cat bounce.

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Re: Dx, Ng/Lee *PIC*