That's how weak the dollar is... The dollar has already rallied for years based on a lie. Based on a false understanding of the true state of the US economy and the direction of FED monetary policy, interest rates, quantitative easing, etc.. The dollar really did not rally as a result of Brexit... so the next thing that's going to happen is it's going to fall and it's going to fall hard and that will unravel this paradigm.
Definitely. There's a good chance this up-move is a fib retracement preceding the next leg down. Current trade looks like the same old black box/algo baby steps we've been seeing over and over again; when the markets exhaust by failing to make new highs a massive sell signal will trigger wiping out the entire advance within days possibly hours... Fully expect to see new lows very soon. JMO
Holding the majority of short positions as the reward potential is astronomical, worth the risk, and cannot be passed up... If global equity markets stabilize short positions will be decimated conversely a total loss of control will likely lead world markets into a crash 87 style. Bottom line; the possibility of a stock market crash near term is 'on the table'; risk on.
Adding UVXY September call options today; also long UVXY July Calls, QQQ Sep puts, & SQQQ SEP Calls, VXX calls etc... Believe US equities nearing exhaustion... No BREXIT and no FED action in July are more NEWS to SELL. All time highs for US markets 'if/when' it occurs would be the last bull run for US equities and a historical selling opportunity.
Definitely vulnerable and reminiscent of December 2015. Another waterfall decline could be days away. And what can the FED do about it? Not much.
Question marks (?) aren't convincing but with TA you just never know. Seasoned analysts projecting a possible Elliot wave 3 down and if correct basically means equity markets are on the brink of an ultra aggressive decline phase. This is the type of move that can make the masses believe stocks are going to zero; VIX peak usually signifies final capitulation prior to a transition into corrective wave 4.