Back in January 2025, Adam Turnquist built a chart. LPL Financial’s chief technical strategist had overlaid the U.S. Dollar Index’s trajectory across Donald Trump’s two presidential terms — a simple comparison, he figured, to see how the second was shaping up against the first. He’s been updating it every couple of months since, sharing it with his head of macro research each time with the same running joke: why do we even try to predict?
“It’s the exact same pattern,” he told Fortune. “Last week, I started refreshing data, and here it is.”
