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Dec 11th, 2009: UUP Charts – US Dollor Bottomed?

Posted by pugsma on December 11, 2009

Given what’s been going on with the US Dollar lately, I decided to make a quick count on the UUP ETF which is a US Dollar Proxy.  It would appear the US Dollar my have bottomed at the beginning of December 2009.  We may have just completed wave 1 up today and are due for a wave 2 pullback of about 62% of wave 1.  Take a look at these two charts.

15-min UUP Chart:

Daily UUP Chart:

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