May 23, 2019 03:21 AM RSS

Chart of The Week: U.S. Dollar Via UUP

  • Wall Street Rebel | Geoff Garbacz
  • 08/11/2016 08:27 AM
Chart of The Week: U.S. Dollar Via UUP

The U.S. Dollar is at a key point as it may be ready to take another leg down. We use the Powershares DB U.S. Dollar Index Bullish ETF (UUP) to track the dollar. There has been a down move in the U.S. Dollar since December of 2015. The larger peak was March of 2015.

The chart below tracks the slope of the 50 day moving average. When it turns from green to red the trend moves to negative. Currently, UUP is on the zero line. A turn down should be positive for U.S. stocks as well as the price of commodities.

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