Wednesday, November 14, 2012

The chart looks interesting. A double bottom has formed, or also called a "W" pattern, and there has been a break above the top of the "W". There is still the gap to close from in September, but as the US election is settled this is looking interesting. There appears to be renewed interest in the USD as a safe haven. I would still like to see UUP get above the $22.30 level to close that previous gap down. UUP is a bullish trade on the USD against a basket of securities.

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