1 year UUP vs. $SPX

(i promise).  a couple of things to point out 1) UUP/$USD bounced at the bottom of that potential rising wedge i’ve been posting on the 60 min UUP chart.  this gives validity to the formation of a wedge (since it was in a very early stage when i started following it and 2) was a likely contributing factor to the pullback in the broad markets today since they coincided (actually, UUP bottomed 4 minutes earlier and one could have anticipated a bounce off that uptrend line and lock in long profits or added shorts).  i’ve posted enough charts lately so you can do this one… if you run a comparison of the $USD or UUP to the SPX/SPY or any key index you will see that they’ve once again returned to a pretty well inverse correlation.  i can see this on both a 60 min and daily chart going back at least a few months.  just something else to watch as watching the dollar may help with timing entries/exits on the broad market.  have a good evening all.

figured i’d just do the chart before i shut down for the day.  this is a 1 yr UUP vs. SPX.  i focused on peak to trough trends but you will notice that a lot (not all) of the smaller moves within those trends also had a pretty nice inverse correlation.  g-nite.