正文
1)
* According to Yahoo!Finance, the UUP seeks to track the price and yieldperformance of the Deutsche Bank Long US Dollar Futures index.
2)
* Technically, the US Dollar Index (DX/Y) has turned higher and recentlymoved above its 50-day moving average for the first time since April. Thisrecent positive price action has spawned a good deal of bottom pickingsentiment. In fact, in today\'s Wall Street Journal there was an article onthe Dollar that said, . for now there are plenty of reasons to own it.
3)
* We think this is way too much optimism in the face of huge longer-termunderperformance. Also, the DX/Y currently sits just beneath its downwardsloping 80-day moving average. We fully expect this trendline, coupled withthe sudden over-the-top bullishness, to serve as staunch resistance. * Additionally, the DX/Y\'s 14-day RSI is at its highest level since April,suggesting this rally is extremely overbought. And, the April peak occurredjust before a massive move lower over the coming two months.
4)
* Finally, looking at the Commitment of Traders Report (CoT), small tradershave turned net long on the US Dollar. Since the beginning of 2009, thishas marked short-term tops on the currency.
* According to Yahoo!Finance, the UUP seeks to track the price and yieldperformance of the Deutsche Bank Long US Dollar Futures index.
2)
* Technically, the US Dollar Index (DX/Y) has turned higher and recentlymoved above its 50-day moving average for the first time since April. Thisrecent positive price action has spawned a good deal of bottom pickingsentiment. In fact, in today\'s Wall Street Journal there was an article onthe Dollar that said, . for now there are plenty of reasons to own it.
3)
* We think this is way too much optimism in the face of huge longer-termunderperformance. Also, the DX/Y currently sits just beneath its downwardsloping 80-day moving average. We fully expect this trendline, coupled withthe sudden over-the-top bullishness, to serve as staunch resistance. * Additionally, the DX/Y\'s 14-day RSI is at its highest level since April,suggesting this rally is extremely overbought. And, the April peak occurredjust before a massive move lower over the coming two months.
4)
* Finally, looking at the Commitment of Traders Report (CoT), small tradershave turned net long on the US Dollar. Since the beginning of 2009, thishas marked short-term tops on the currency.
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