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What the Dollar is Saying About the Stock Market

Published September 8, 2023

Hey, Ross here:

Let’s look at a chart that perfectly encapsulates the kind of market we’re in right now.

Chart of the Day

This is the DXY – the U.S. Dollar Index.

And as you can see, it has largely been inversely correlated to the stock market this year.

When the markets were going up – it was going down. And when markets were going down – it was going up.

The DXY has been rising sharply since late July – right when the stock market peaked for the year.

It’s now very close to a resistance level.

If it fails to break past that level and starts falling again – that could signal the start of the next leg upward.

Until then – stay cautious.

Insight of the Day

Good positioning happens before the market makes a big move – not after

A quick word about good positioning in trading – it’s something that happens before the market makes a big move, not after.

That’s why even though the market is currently range-bound – I’m still recommending positions, although I am a lot more cautious.

And right now, one of my strategies is up nearly 20% – counting both wins and losses – since August.

Remember – it’s all about the win/loss ratio (how much you win vs how much you lose)

It’s a strategy based on one of the most trusted chart patterns I’ve ever seen – and thrives during pullback periods.

So, if a nearly 20% return in the middle of a pullback sounds good to you…

All you have to do is click here to find out more about this strategy.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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