US Dollar (DXY) - Dominant Swing Trading Cycle
- 36-week (Hurst nominal 40W) cycle dominates swings in the US Dollar Index, and it has rolled over
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SPX - Technical Analysis 101
1. The McClellan Summation Index ($NYSI), a key trend indicator, is pointing down.
2. Negative divergence is seen in RSI, MACD, and $NYSI.
3. The MACD histogram has turned negative.
4. There's temporary support at the middle Keltner band.
5. Breaking below the August gap and June high (brown line); next support is at the lower Keltner band and 50-day MA.