Chart of the Day - Thursday, November 3rd, 2022
November 3, 2022
Today’s Chart of the Day was shared by Tyler Lovingood (@Tyler_Lovingood). It's a daily candlestick chart of the US Dollar Index ($DXY) over the past six months. The bulls keep trying to call a top in the Dollar, but as Tyler points out, the uptrend remains intact. Dollar strength has been putting pressure on stocks and risk assets all year. That pressure is likely to continue as long as the Dollar is trending higher. You can understand why the bulls want it to break down, however, it's just not happening yet.