First off odds favor I'm wrong on the Bull Flag. Flags are typically much shorter and never longer then 3 weeks, any longer and they become channels.
In black, AGG's 5 minute chart gave us convincing evidence it wanted to put in a swing low at the 104.76 which was tested many times throughout the day. However, it hasn't changed my mind and I'm still expecting a close off the green trendline.
The S-Fund and other small caps I've been watching have been leaving me disappointed. On this chart I've outlined lower highs and higher lows forming a Symmetrical Triangle. I don't have volume for this chart so I'm using the Bollinger Bands to tell me this chart has an upside bias. WARNING, the ADX is super low, the last time we had levels this low was in 2007 and it resulted in a 13% drop.
It's hard to find good news anywhere but the Transports. Although Thursday they were rejected by the March trendline, we now have 5 closes above the previous swing high.
I'm likely the last Guy in the world who has remained Bearish on the Dollar throughout this last rally. I'll also be the first to admit I'm wrong as soon as the charts (or anyone else) proves it to me.
The Daily Dollar has its 3rd failed attempt to close above the 75 SMA.
UUP 15 minute chart shows two breaks through the Gap-Up 4 December trendline.
One Break does not a breakout make, but Gold's GLD and Silver's SLV have broken above their 15 minute descending trendlines. I believe they might be ready to form a base at 110/17 but only time will tell.
In black, AGG's 5 minute chart gave us convincing evidence it wanted to put in a swing low at the 104.76 which was tested many times throughout the day. However, it hasn't changed my mind and I'm still expecting a close off the green trendline.
The S-Fund and other small caps I've been watching have been leaving me disappointed. On this chart I've outlined lower highs and higher lows forming a Symmetrical Triangle. I don't have volume for this chart so I'm using the Bollinger Bands to tell me this chart has an upside bias. WARNING, the ADX is super low, the last time we had levels this low was in 2007 and it resulted in a 13% drop.
It's hard to find good news anywhere but the Transports. Although Thursday they were rejected by the March trendline, we now have 5 closes above the previous swing high.
I'm likely the last Guy in the world who has remained Bearish on the Dollar throughout this last rally. I'll also be the first to admit I'm wrong as soon as the charts (or anyone else) proves it to me.
The Daily Dollar has its 3rd failed attempt to close above the 75 SMA.
UUP 15 minute chart shows two breaks through the Gap-Up 4 December trendline.
One Break does not a breakout make, but Gold's GLD and Silver's SLV have broken above their 15 minute descending trendlines. I believe they might be ready to form a base at 110/17 but only time will tell.
