Just a quick update on the UUP dollar etf. We have now firmly closed below the big one year neckline. This is the reason I moved the stop up last week to persevere any profits some might have had. Its just as important to know when something is not working vs when something is working. The rally should have moved up and away from the neckline after the backtest and the longer it lingered there the more doubt it showed. Anyway this should now be good for the precious metals complex and the stock markets going forward.
UUP false breakout.