I mentioned this in the chat room today, but let me make it official by recording it as a tout: The Dollar Index looks like it could bore bulls and bears alike to tears for the foreseeable future. The weekly chart is unmistakably bullish, and that is why I think the stalemate will be resolved to the upside, hard as that is to believe. But the daily chart shows dueling impulse legs — bull feints followed by bear feints — that suggest the conflict could go on for some time, perhaps for as long as 3-4 months. We may be able to get a better read if DXY tangles with a major Hidden Pivot on the daily chart, but this is not imminent because there are no such pivots near these levels.
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