Since triggering a theoretical buy signal at the green line (x=105.89) a month ago, the dollar index has corrected only slightly and not closed below it. This implies that the next significant move will up and that it will take DXY to 112.20, the Hidden Pivot midpoint of a long-term pattern that projects to as high as 124.82. This is bad news for all who owe dollars, although it may eventually force the big spenders on Capitol Hill to rein in deficit spending.  I used to think a strong dollar would force an end to Powell’s tightening regime, but perhaps the deflationary implosion it could cause is what he intended all along.