Why not #SqueezUncleBuck? Consider this post for entertainment purposes only (but not really). In the “short squeeze era” as this silver promotion put it (among a litany of other well worn sloganeering)… It occurs to me that one market is shorted like no other. That market is the one for the US dollar. This picture does not lie. The whole world has been riding the … Continue reading Why Not #SqueezeUncleBuck?
Well, the USD bull fund UUP at least, is breaking out of a bull flag. The Fed is docile, the 2yr yield is trending down and long-term yields are dropping as well. Yet there Uncle Buck goes on his merry way. Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market … Continue reading Uncle Buck Bull Flag Breakout
From NFTRH 469: The US dollar index is pivotal to so many other markets. The bounce has taken what could be viewed as an ‘A’ leg up with a ‘B’ in progress now, looking for support at the 50 day moving average. If that holds we would have a bottoming pattern that could provide the burst to the target around the SMA 200. The theoretical … Continue reading Uncle Buck’s Bottoming Pattern
Well, in support of the firm dollar view I keep touting, more money is put where the mouth is and to my anti-euro position (EUO) I am adding the strong dollar fund UUP. These are not trades being touted, they are members of a risk-managed portfolio, which now includes by the way, a short against junk bonds as well. Subscribe to NFTRH Premium for your … Continue reading Adding UUP
A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…
GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180. Over sold, prone to bounce but technically bearish below 120 and 123.
A snapshot of current technicals for key markets…
GLD became very bearish with the breakdown from 124. A rise above 123 is needed to even begin to repair this chart.
A snapshot of the current technical status of key ETFs…
GLD filled gap, which now closes out the geopolitical hype and leaves gold on its own right at key support. Still not a constructive looking chart. A rise above the SMA 200 and then the 50 makes it constructive.