July 5th 2011 11:56 am
Keep Your Eye On This Market
Above is a daily chart of the ETF for the U.S. Dollar symbol UUP. If you’ve been a reader of this blog you would know that one of my favorite chart patterns is the symmetrical triangle and that is exactly what is forming in the U.S. Dollar right now. We can never be sure which way the breakout will be but when it does finally happen the subsequent move should be a nice trend. I guess being that I am bearish on the stock market I would prefer to see a breakout to the upside in the dollar but for now lets just take one day at a time and let the market tells us what it wants to do. Keep an eye on this market!
Similar Posts:
- Stocks – Was The Breakout A Bull Trap
- Google Inc. (GOOG) – Tight 3 Day Range
- Gold And Silver Update
- Market Report on S and P 500, Oil, Gold & Dollar
- Grains Chopped to Pieces in Ugly June
No Comments yet »