DXY and international indexes

International indexes took a bit hit in Q2 as DXY strengthened. This was frequently very much a currency move as nearly all the stock indexes look better than their US ETF versions. 

DXY top near YP 'could be' it for the year. But if that is true then we'll likely see DXY drop under its MP soon - for now still above HP QP and MP.

SHComp dropped all the way to YS2; holding this level would increase the chance of recovery of YP on FXI and EEM. 

INDA has tested its YP a few times this year and benchmark indexes Nifty and Sensex are just off the highs; I think this is my favorite setup and long. Regarding the others, if you took EWZ, EEM or FXI shorts then you are looking good with booked gains or holding below pivots especially the YPs on the latter two. 

Q:  Big bounce after being down for more than a year; now at 10MA resistance.
M: Congestion between rising 50MA and falling 10MA. 

Set to open below YP with recent rejection, but above HP, QP and MP.

1 15 DXY M.png
1 16 DXY M.png

M: Benchmark index also below 10MA for the first time since 2015 correction.

1 17 ACWI M.png

W: Weak below all pivots, at YS2. If this holds would help EEM and FXI to rally.

1 18 SHComp.png

M: Already at 20MA. 

Set to open below all pivots. 

M: Also testing rising 20MA.

Set to open under all pivots. 

M: Even KWEB below 10MA.

Also set to open below all pivots except YP.

1 21 KWEB M.png

W: YP defended. Any further weakness in DXY and/or risk on will help this to rally. One of the more attractive setups long above the YP.

1 22 INDA W.png

W: Benefiting from oil rally, but instead of this would rather be in USO or XLE.

W: Sad EWZ went from 2018 leader to biggest loser. You just never know when a YP break is going to get serious. 

1 24 EWZ W.png

Bovespa shows how much of the move was currency impact and also gives hope for bounce in EWZ with hold of YP.