UUP/$USD Continued

Remember the negative divergence forming in UUP yesterday? It was shot down after Moody's sent Greece's credit rating plunging 3 notches, but today, the divergence got it's way.

 From yesterday's 1 min UUP negative divergence, it's dropped this morning, this may give equities, PMs and commodities in general a little breathing room. Don''t forget the larger picture in the dollar though.

On the 15 min chart accumulation has started, it's only natural that we will see short term negative divergences when the dollar climbs too high, remember accumulation occurs the most often in a flat trading range. We have about 2-3 days under our belt, the last Dollar divergence had about 6 days of accumulation before it moved higher.