Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Dollar Index Reaches a New 2015 High in Front of Forthcoming Potentially Directional Catalysts


DXY hit a one-tick, 2015 new high at 100.31 yesterday. (11/30), but has turned a touch lower this morning to 99.80/72 so far.

What is interesting is that the new high was not confirmed by my daily RSI Momentum Gauge, which actually peaked back on Nov 6 at 99.35.

This is a warning that DXY could be nearing, or at, an exhaustion area prior to a significant correction.

Of course, this "warning" is occurring right in front of Fed Head Yellen's testimony before Congress this Thursday, the next ECB Meeting on Thursday, Friday's Jobs Data, and ahead of the Dec 16 FOMC decision that investors are betting will result in a 25 bps rate hike.

Be that as it may, DXY needs to press and sustain beneath 98.50/40 to trigger confirmed near-term sell signals.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!