Sonny

MARKET REVIEW

DXY - nice rejection into the Friday close. The market desynchronised last week, with the selling in risk assets deviating from the DXY weakness. Hence my comments about fear taking over. I think this divergence sets us up nicely this week for risk assets to push higher and squeeze shorts. I'm bullish risk until DXY completes this C wave and hits around 97.9 - 98.27

CRUDE OIL - Pretty clear that the trend is losing momentum. 18H 5EMA-13SMA cloud on the verge of flipping red. The PA since March 10th is not what a trending move typically looks like, suggesting this is still a corrective structure which has yet to bottom. The move towards 65-72 should align with the drop in DXY early this week.

VIX - I think this is the most telling chart of all, everyone puked stocks on Friday and it couldn't even make a HH on a closing basis. It has been teasing this H+S pattern for a couple weeks and I still think the market needs to reset position before the big collapse. I would be wrong i