U.S. Dollar Index, The Stock Market Cardiogram
The U.S. Dollar Index(DXY) is trading lower by 0.08 cents to $73.06. This is another new daily chart low for the U.S. Dollar Index, however, the DXY is trading off of its intra-day low. As you probably know by now, when the U.S. Dollar Index rallies higher intra-day the major stock indexes will trade lower. Every trader must be wondering if the U.S. Dollar Index will fade into the close helping to inflate the stock market indexes higher. Traders can look at a 5, or 10 minute chart and watch how the major stock indexes will trade inverse to the DXY virtually tick for tick. If the DXY can somehow rally into the close the major stock indexes could see further declines into the close. It really is a dollar story.