The Demise of the USD

On December 1^st, I posted a tweet on X when the Greenback Index violated the Decrease Warning Line (stable gold line) of the Schiff Modified Pitchfork (gold P1-P3) saying “Good Evening Buck”. The follow-through to the draw back has been nothing lower than a catastrophe for the remaining bulls (if any). “Tip of the Hat” to my good friend Michael Shaoul, now a portfolio Supervisor of ION Administration, who right this moment shared one in all his technical tell-tales which is posted on the above chart. When the 50-Shifting Common (blue line) is unable to advance above and peels away from the longer-term 200-Day Shifting Common (inexperienced line) it confirms that the down development continues to be in gear. Within the short-term I might anticipate {that a} counter development rally will develop however all of the technical proof together with right this moment’s violation of Cloud assist suggests that is solely the opening act within the play “The Demise of the USD.”