the price action of the dollar index recently coincides with a succession of bull traps../ blue elipses thinking that it is easier to sell the rallies in the indices...just an opinion
SPY *is* at resistance, but if it does a double top breakout there's a series of higher lows to support the case for a short term rally. Next resistance would be 110.7, giving about a 1:1 trade.
uup chart with supporta areas and vertical counts blue lines are rising supports green re vertical count targets there is only one downside count still standing.this will get taken out if 23.80 is broken. two of the upside vertical counts are off the chart dollar started getting bullish on thanks giving weekend.nd of november.dubai started it off basically...dollar up/stocks down just an opinion
steve.i understand youre raesoning of rising lows see this chart.all i am saying is beware.the uup is a very bullish chart and that is calling the shots
another strategy,which might be safer is to short the rallies,buy the oversold and scalp the bounces off major supports just my opinion dont forget,the last few upmoves have been bull traps.
a possible breakout point looming on uup.it could fail at this point.however rising lows present,could go back and wait, a possible triple -top then looming.too early to tell.lets see