Since late 2008 (and since mid 2010) UUP/USD ETF has done an inverse Elliott Wave 12345 down up down up down pattern, see http://finance.yahoo.com/q/ta?s=UUP&t=5y&l=on&z=l&q=c&p=v&a=fs%2Cw14&c=, and, volume exploded recently, see http://finance.yahoo.com/q/ta?s=UUP&t=5y&l=off&z=l&q=c&p=v&a=fs%2Cw14&c=. Also, check out the second Weekly View Chart (and the first Daily View Chart) at http://stockcharts.com/freecharts/gallery.html?s=uup.
So, it looks like UUP probably put in a very important Cyclical Bear Market Cycle Low recently at 20.84, which means that UUP and the US Dollar are now probably in a Cyclical Bull Market, which is bad news for the stock and commodities markets.
I'm looking to Go Long the USD ETF UUP in the next few days, see http://stockcharts.com/freecharts/gallery.html?s=uup. UUP put in a Short Term Cycle High at 21.76 on 5-13-11, and, it looks like it'll put in a Short Term Cycle Low in the next few days.
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