UUP has made a higher high and may be forming a higher low now. This is not a "crowded trade" since nobody is convinced the dollar is in bull mode... reference Tim Seymour on Fast Money (see Eric's post for the video.)
The dollar is still oversold and unpopular and yet is exhibiting some bottoming characteristics as per the Mamis model (below.)
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I was looking at a 1 year chart...
ReplyDeleteyou are talking about sort of a Micro sentiment cycle f.....
In a Micro sentiment cycle one would be looking at a Micro "Wall of Worry"