Hi Traders,
As you probably think what is the best indicator // driving force of current Stock / Crypto / Commodity markets (?)...
Its probably Dollar Index. You can see its going upwards in a HUGE channel.
If there is THE Recession coming (or its already in progress) ... than we Have to follow what is doing the World reserve currency. (Until it well be replaced or loose some of its position in a mix of other currencies).
So MAJOR trend is upwards, as you can see at 1W/1M chart.
Minor trend at 1D chart is currently sideways / down. 1D chart is attached. = Seems like its forming a BULL flag.
Hence right now most indexes are in corrective stage and many of them corrected about 50%+ Upwards from local lows.
Lets see what is going to happen in next months.
My Humble expectation is there will be 6+ (up to 18 months) of Bear market.
It will depend a LOT what can do Central banks to save the situation if its really necessary (High inflation, decreasing GDP, Economic slowdown, ...).
Take care and stay Green ;)