I wrote up the US Dollar and UUP on
February 3rd, pointing out that UUP had been on a
Weekly BUY Signal since last December. Here is a follow-up chart on the
Daily Trend Model which reflects last night's Fed news, no big surprise to the
Trend Model.
UUP Daily Trend Model
The UUP March 23 calls are up about 20% this morning, on less then a 1% move in UUP. Imagine that kind of leverage on the above trend signals.
3 comments:
Counting the wave structure from the december 3 bottom.... 1-2-3-4 has just completed,this shooting star begins wave 5.
looks like a target area of 24....and out the door.
one could now start counting the subwaves of this wave 5 ,maybe on the hourly chart or the 4 hour chart,and when 5 waves up is finished....its game over for the dollar ,for this cycle.
Allan does your research comport with the belief that the currencies are the best trending markets and if so should we focus mostly on the currency ETF's? I am concerned the the stock market may be entering a choppy period. It Would be great if there was a methodology which pointed us to the best markets to apply your algorithm too. What about screening markets for instances where the last few signals have not worked well since markets tend to go from trendless to trend?
Thanks,
Paul
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