How strong has the dollar rally been in May? The Bullish Dollar ETF (UUP) has had just 3 down...

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pmiller100 Comments (228)
 
I don't get that. It's gone up enough, or, well, almost enough, so that the technical analyses show it going up even more. Huh. So now, after just three down days this month, we're not looking for a pendulum swing but instead continued momentum - because the chart says so. Nothing about safe haven treasuries, or stressed euros. Just because it has gone up enough that it is "on the verge of a technical breakout."

Seems to me when something goes up, pressure ought to build for it to go back down, unless something then causes investors and traders to push it up further. But what do I know. I'm just an idiot fundamental guy.
29 May 2012, 03:08 PM Reply Like

debstyne Comment (1)
 
Be patient, the trend is your friend in this case.
30 May 2012, 05:59 AM Reply Like

Stoploss Comments (1727)
 
Not quite like bonds and notes though. Now there's a rally in May.
29 May 2012, 03:28 PM Reply Like

Brian Bobbitt Comments (1347)
 
Totally unreal. Does the author think we are banned from looking at charts. Man, I could get nasty. Looking at a 5 year chart, the dollar(UUP) was down below the 22 range last year and using the highs in the 27 range, (looking at the UUP chart) it is now well off the lows of sub 22, and the entire look, no matter which time frame you look at is decidedly down. Okay, we have a blip in here, and for the most part the currencies that are in the basket to which the dollar is compared to are in the dumper, so of course we are floating near the top of the trash heap 'compared to' other trash currencies.
Look at this chart { http://bit.ly/oWmHa1 } then refresh it, and use different time scales and periods, you will see that the dollar is simply in rally mode. To pick this fact up did not take a rocket scientist. Using this index it is compared to EUR <toilet wash, JPY<---20 year recession, GBP<---hopin' the E$ doesn't trash all their investments in the Ebonds and banks, CAD which simply goes along with the flow, avoiding any involvement with anything and a new home for the Chinese, CHF which also is a stand aside economy TOTALLY predicated and using juice from Mother Europe, which is also feeding the Swiss bad chocolate, and the SEK, {the what?}
You got one thing right, the dollar is going up. The why is totally a mystery to you [you being John Spence].
29 May 2012, 04:31 PM Reply Like

Swass Comments (418)
 
As a technical analyst, I personally believe we're actually close to a short-to-medium term top in the USD. I suspect with the possibility of one new minor high, we should see a couple month (or so) pullback to allow all markets to correct before the dollar powers ahead again. This would likely pull us back to the 78.60 area.
29 May 2012, 04:46 PM Reply Like