Tuesday, November 23, 2010

UUP & EUO in the Clouds



The DAILY EUO & UUP charts have had Buy Signals by momentum/trend indicators since 11/11 & 11/12, respectively. After CT 2 was completed the blue Conversion Line passed up through the red Base Line. The latter flattened during the NASI BT (this was associated with the ETF bouncing along the bottom of the cloud). Today both ETFs began trading well within their respective clouds. A break through the cloud would further confirm the bullish dollar trend.
It's a Lesser Frigatebird...

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