Chart of the Day - Monday, March 18, 2024

🏆 Today’s Chart of the Day was shared by Linda Raschke (@LindaRaschke).

• The US Dollar Index was a crucial chart in 2022, but little has been said about it since its peak in September 2022.

• It’s been a trendless mess over the past year, but it could be gearing up for a meaningful move or trend.

• Linda points out that Dollar Index futures have reached an equilibrium point after coiling into a 5-point triangle. In another comment, Linda explained, “Some of the better trends can emerge from equilibrium points.”

The takeaway: The Dollar Index is coiled up for a meaningful move or trend, and its at a decision point ahead of this week’s data dump.