Even ol’ King Dollar is turning the page, embracing 2024 and everything it offers with open arms. It’s shaken off the selling pressure from 2023 and appears ready to turn over a new leaf.
But a bigger dollar rally might need a little help from a nearby friend.
More on this idea in a second.
First, let’s check out the US Dollar Index $DXY chart…
The DXY is finding its footing following a brutal holiday season (dropping nearly 5 percent since November 17):
The DXY stopped catching lower right where we would expect: a shelf of former lows at approximately 101.
“If people weren’t wrong so often, we wouldn’t be so rich” - Charles Thomas Munger
R.I.P. Legend.
Charlie, of course known for his fundamental analysis alongside Warren Buffett all these years, was a closet Technician at heart.
His analysis of human behavior was top notch, particularly misbehavior and stupid behavior.
His comment to Warren about the reason they were so rich was because people are so often wrong, was spot on.
If you've been paying attention, we use this to our advantage quite a bit.
For example, twelve months ago Wall Street strategists forecasted an outright fall for stocks in 2023, the first time this century that they had predicted a loss...
Last Week, we held our November Monthly Conference Call, which Premium Members can access and rewatch here.
In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each.