Bank of New York ADR index
3 Jun 2020 ● 05:58 AM
The ADR index of global stocks has rallied far enough to overlap with the previous swing low, meaning we cannot mark it as 1-2-3 and best option is A-B-C. It begs the question that this multi year pattern is a consolidation like a triangle. If the dollar does start a new bear market it would be bullish for emerging markets and other asset classes that the index represents more strongly. So far so good.