This is a major development in the forex market. And when we look under the hood, things are even worse than they appear for the greenback.
With more and more global currencies showing relative strength each day, it’s time to take a look at US dollar internals and see what’s moving.
Relative strength is not just the cheat code for stocks, it also works for the currency market and everything else in between.
We also learn a lot about the breadth of a given market through analyzing internals. This helps us determine how we want to position ourselves to make money.
And right now, it looks like we should position ourselves for a lower dollar over longer time frames.
The following table shows the US dollar is in, or moving toward, a bearish trend regime against most other major currencies.
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.