Direct from the desk of Dane Williams.
With markets becoming increasingly addicted to Fed stimulus, we know support means free money and as you can see below, the markets reacted accordingly.
The US Dollar Index (DXY) remains under pressure, reaching support not tested since 2018.
While at the same time, we have the S&P 500 (SPX) continuing to push toward what seems like inevitable all-time highs.
If you think that’s highly irrational price action during a global pandemic which has seen millions left unemployed and requiring government handouts to put food on the table, you certainly wouldn’t be alone.
However, this is the reality we live in and it’s time to flick your thinking if you’re going to be trading these markets.
Markets can remain irrational, longer than you can remain solvent.
Don’t ever forget that.
Best of probabilities to you.
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