Stronger Dollar?

With the Fed starting to taper bond purchases, I expect the US Dollar to gain strength and perhaps commodities to weaken.
So I am keeping an eye on the Powershares US Dollar Bullish ETF (UUP) for price confirmation. The chart shows a strong rally at the end of the day on Dec. 18th as expected, but it has to clear $21.80 where it has encountered supply several times in the past. Once that is cleared it can easily go back to $22.20 and ultimately $26 or higher. It is a very choppy chart and not for the faint of heart.

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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