Dollar Trend Reasserted – Short in Autos

Published on
April 6th, 2017
20 minutes

Dollar Trend Reasserted – Short in Autos

Technical Analysis ·
Featuring Dave Floyd

Published on: April 6th, 2017 • Duration: 20 minutes

Dave Floyd returns for the April market update from Aspen Trading and this time he has a couple of actionable short term plays to share. With the dollar trend reasserting itself, he expects a slight pull back in the dollar index before a move higher, completing the correction off December lows. On the stocks side, Dave is looking at GM as a potential short, on the back of the lowest auto sales in two years. Filmed on April 4, 2017.


  • DF
    Dave F. | Contributor
    2 May 2017 @ 22:10
    Nice break lower in GM today. The forecast $35-$37 resistance zone capped the correction and set in motion the current move lower. Long a Bear Put Spread
  • DF
    Dave F. | Contributor
    2 May 2017 @ 15:18
    Filming the 'May Analysis Video' in the next hour or so. Just reviewed last month's forecasts.....not too shabby. GM (short), EUR/USD, AUD/NZD and USD/CHF
  • GE
    GABI E.
    12 April 2017 @ 12:20
    Great vid' !! Thanks Dave
  • DF
    Dave F. | Contributor
    10 April 2017 @ 17:34
    Here are my updated thoughts on the S&P's in here - daily and 4-hour charts
  • DF
    Dave F. | Contributor
    9 April 2017 @ 23:14
    Thanks Jason.....regarding the S&P chart, I would need you to clarify the time frame. A 60-min chart tells a very different story than a daily :)
  • JA
    Jason A.
    8 April 2017 @ 13:29
    Thanks David! Bang on analysis with usdx. I'm in the same bot with the same count. Would you mind posting a count of the ES at your leisure? Say maybe on your twitter or post a link in here? Thanks!
  • PS
    PD S.
    7 April 2017 @ 17:38
    great vid as always, dave floyd is da man! ;)
  • DF
    Dave F. | Contributor
    7 April 2017 @ 14:35
    Thanks Richard, appreciate the comments.
  • RM
    Richard M.
    7 April 2017 @ 14:20
    Thanks Dave! I'm not an EW'er but I still enjoy your analysis and thoughts. Really appreciate you coming on RVTV on a regular basis so we can get a "track record" of your analysis and recommendations - very helpful!
  • DF
    Dave F. | Contributor
    7 April 2017 @ 14:14
    As an FYI....the SPY Call Spread I talked about in this video was closed out this AM. I remain neutral to slightly bullish on the S&P's, but see a period of sideways chop. Thus wanting to avoid some time decay, I closed the trade. Bought the spread for $3.14 closed at $3.77
  • DF
    Dave F. | Contributor
    7 April 2017 @ 12:14
    Hi Linda A. Thanks for your comments and questions. My charts are created in MotiveWave - and yes, it is a great charting platform - Your observations about key technical developments are all valid, head and shoulders, trend-lines etc etc For me - I combine various technical and fundamental factors: Elliott Wave, Fibonacci, quantitative and overall price action just to name a few. Hope that helps, Dave
  • DF
    Dave F. | Contributor
    7 April 2017 @ 12:11
    Thanks Darrell
  • DF
    Dave F. | Contributor
    7 April 2017 @ 12:11
    Nicely done Steve R. Let's see how this idea plays out..
  • SR
    Steve R.
    7 April 2017 @ 01:21
    Agree with the short auto-sector theme, I'm already short a couple of stocks in this sector and looking to further build these short positions in any rally.
  • dd
    darrell d.
    6 April 2017 @ 18:46
    Interesting take on the car trade. Keep up the good work.
  • LA
    Linda A.
    6 April 2017 @ 17:07
    Awesome charts- unlike my IBD charts. What's your take on shorting auto parts suppliers like AAP? Hi P/E, lots of competition (including amzn), retail sector crashing, crumbling chart- below 50 day & 200 day? What is the most important thing u look for when shorting- below 50 day ma? head & shoulders or big volume on gap down? Thank u for the excellent video and time!