DXY – NYBOT Dollar Index (Last:73.86)

NYBOT Dollar Index (DXY) price chart with targetsPushed below 75, the Dollar Index has grown increasingly nasty toward bears, with Whoopee Cushion rallies interrupting the decline each step of the way.  Although I am still calling for a major decline to at least 68.36, it’s not going to be an easy ride for shorts, since the lower the dollar goes, the closer the world’s financial system moves toward the inevitable Day of Reckoning. Fortunately, and in any case, it will be virtually impossible for this vehicle to take us by surprise if we simply watch for the creation of a bullish impulse leg on the hourly chart that would warn of a significant trend change.