Afternoon Update

I showed you the UUP chart with distribution, hinting we'd see accumulation in the market as they tend to trade inversely. Now we have solid accumulation into an inverted H&S bottom pattern, the target seems to be yesterday's highs. The exact trendline to the right is a bit hard to determine, but you should see an increase in volume when it is broken or if it is broken to the upside. The price pattern alone is bullish, remember we are talking about an intraday basis here.