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    Volatility Reports 3/14/24 Dollar Index

    March 14, 2024

March 14, 2024

Volatility Reports 3/14/24 Dollar Index

The risk markets are fearless, so why is the play for safety holding up so well?

I have stated a few times that market analysis should not be done in a vacuum relative to all the other markets. That the correlations – while ephemeral, new ones drive out the old ones – will have an impact on the outcome of the particular market analysis and its forecast.

Well, the flight to safety is starting to show up with concerns being seen through the bullish performance of the gold market. Unlike the majority thinking that gold is a replacement for fiat currency namely the US dollar. Gold has always been the place to go for balancing out bear markets in stocks. Gold has broken out of a multi-year base and looks much higher. More on that later.

Today gold is being ignored with all eyes on Bitcoin and related AI. This is where the next major bubble burst will come from collapsing the entire industry for the next decade or longer. Along the way a US dollar continues to build its worldwide buying power.

Side bar: keep your eye on BLK, as a precursor to the demise of the bitcoin. See post in group space on the stock. 

So as in good bull market form, ignoring what the media is calling bad for the buck and exaggerating the good news, the USD index is in an ascending bullish channel since 2011, see the monthly chart above.

What the long-term chart also reveals is the Elliott Wave count proper,

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