Thursday, October 14, 2010

Request for UUP

 5 MIN-PRETTY MUCH IN LINE WITH THE EUR/USD TRADE
 15 min showing a positive bias for the dollar
 30 min showing the top in red and a positive bias since.
Here's the daily chart, you can see the first positive divergence moving the index up in 2009, confirmation at the green arrow and then a negative divergence at the top. The positive bias in this chart is the position of 3C now relative to the position of 3C and price at the same level. Price is clearly lower, but 3C is virtually lateral when it should be much lower if it were confirming the weakness in the down trend. This same positive bias is seen in all of the charts above.

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