Watching the weekly momentum for a trend break from bearish on the weekly. If it breaks, we are going to trade like quad 4, where:
1- equities broadly won't like it apart from low beta defensives like Utilities 2 - Yields should fall, so it's long US treasuries 3 - Gold should catch a bid
Let's see.
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OK, so our $ friend is poking his head up. Econ data looking like Quad 3 (stagflation) for third quarter, which is not bullish for DXY.
This could be a head fake We may just pause before take off Maybe we just consolidate for weeks.
No hard view yet, but airing on the side against the bulls.