Sunday, September 20, 2009

UUP‎ - PowerShares DB US Dollar Index Bullish (NYSE)‎ > REVERSAL

Reversal in the USD Index trend?

Check the UUP - USDX Bullish Fund has closed Friday trading with recorg high Volume!

Interesting for me was to check the distance from the 21-Day MA.

You would find interesting cyclical correlation noted on the Daily chart. If the noted cyclical bottoms signalled by the confluence of both the RSI (14) and Wilder's DMI (14) are to be trusted we have seen ay least the short term bottom in USD Index.

The reversal should be confirmed by the record volume on the Friday closing.

1 comment:

  1. Agreed.....Today we said "Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a short term low might be in or is near"....this spells trouble for equities and crude oil, but the pom pom girls continue pushing on the old T.V. set.