bearish

Weekly Stock Bullfinder - Week of 7/17

225 Views17 Jul 2023 09:30
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SUMMARY
  • After witnessing a parabolic advance at the beginning of the Federal Reserve’s tightening cycle in early 2022, the US dollar has decisely break down below prior weekly support levels in a large bearish engulfing candle last week.
  • This breakdown can serve as a tailwind for multi-nationals (especially technology names), commodities, emerging markets, treasuries, and cryptos.
  • The dollar is now sitting at a 15 month low. This decline may not be over as the MACD indicator is now crossing down.
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