The Dollar Index

The $US Dollar Index just had a nice move up (via UUP) vs the Euro. Yesterday I saw UUP developing a 1 minute positive divergence, which led me to believe we'd see strength in the Dollar today and as it "generally" trades inversely against the market, this was part of my market analysis.

As it only had 1 timeframe that was positive, and 1 minute at that, it didn't make for a trade, however now almost every other timeframe has fallen into line very quickly.

SPY in green, UUP or the US dollar in Red. Note the inverse relationship between the two.

This is the 1 minute positive divergence I saw yesterday

This is the 10 min chart now in a leading positive divergence.

This looks like it could make for a decent long trade either here or on a breakout from the downtrend around $23.76. UUP is a leveraged ETF for the dollar index