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October 23, 2020

Scandex Technical Weekly: 10/23/2020

2011-2014 trendline support in DXY held in September. Focus is higher as long as price is above that level. 96-97 is a general zone to look towards. This zone includes the 200 week average and center line of the channel from the 2011 low.
October 22, 2020

Market Update: October 22

Bonds have been the big mover leading up to the U.S. election. TLT is under the 200 day average for the first time since December 2018. The next critical level to pay attention to is 153-154. This is the bottom of a short term channel, the June low, and the long term upper parallel from the channel that originates at the 2007 low (magenta line). The upper parallel nailed tops in 2012, 2015, and 2016 and the low in June. A long term chart is below. Expect the level to act as support BUT a break below would indicate a major behavior change in TLT (and bonds generally).

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