UUP updated chart

We update the chart of UUP, which was first presented here.

Click on the chart for a larger view, in which we see trends so obvious as to not warrant commentary other than to say a reversal will not be in effect until the ETF is consistently enjoying bids above $23.




It is interesting to note that for the first time in a very long time, the markets are not moving inverse to the US Dollar. Both the US Dollar and the markets are up significantly today, suggesting a potential bearish divergence. If so, the markets should be at a top of some significance and duration.

With the US Dollar rising, we also find gold dropping materially today (when measured in the usual US Dollars of course). This corresponds with the gold charts and targets we've posted recently.



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