Loading ...Rambus UUP Chart
The Most Important Chart on the Planet IMO
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“I was going through some old currencies charts I haven’t looked at in well over a year and came across this old weekly chart for the UUP. This is how I found it (untouched). The possible double bottom we just looked at on the combo chart above falls right on the bottom rail of the uptrend channel. You can also see at the reversal points on the bottom trendline that a buy signal was given when the red 13 day ema crossed above the 34 day ema. We still don’t have a bullish crossover yet but the 13 day ema has turned up. All the best…Rambus”
For all you new readers who come here for the Covid Commentary …if you Don’t Know Who Rambus is
Check out his links on the sidebar under “The Wizard of Rambus”. Best Market Technician on the Planet IMHO .
“The Index is a rules-based index composed solely of long U.S. Dollar Index futures contracts that trade on the ICE futures exchange (USDX® futures contracts). The USDX® futures contract is designed to replicate the performance of being long the U.S. dollar against the Basket Currencies.”
So bullish $USD bear gold?
Yes The UUP is a trading proxy for the US Dollar…I thought everybody knew that
UUP is to the Dollar Index as GLD is to Gold
So yes…That’s Rambus Point !
The Dollar has been in an UUP trend ( pun) since it stopped going down in 2011 and double bottomed 3 years later
10 years of higher highs and higher lows
Surprising >? Hell Yes !
And until that trendline is take out we have to be Bullish on the damn thing at this point
SUCKS