$INDEX an Update Breakout or resistance ……can create global selloff……read it
We are continuouslly updating you to keep an eye on $ index once it crosses 76 levels recently and it attempted to cross 79 levels also.
The Dollar ran into a brick wall of resistance at (1) 6 weeks ago. Now the Dollar is making a second attempt to get above resistance and its 38% resistance level at zone (2).
So far a breakout HAS NOT taken place and RESISTANCE IS BACK AT HAND… yet if the Dollar can muster
As per the chart once it crosses this levels we will see global sell off in Equities and commodities as people will take shelter $ as safe haven and will cut down on everyother thing. Also in our Indian markets the stocks in midcaps and smallcaps are being butchered like anything which shows that now front liners would get beaten up very soon and the reason will be $index. Also Re. v/s $ yesterday made lifetime highs which is also a concern and europe unable to resolve the problems as one or the other country everyday is creating some problems.