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Afraid to Trade Blog: Keep Your Eye on the Volume Surge in the UUP Dollar ETF

tgarfield · 1 month ago

What is that MACD setting you use? I use it and have it written above my monitors but I'm on the road for a bit, and I can't remember.
missyotto · 1 month ago

Not Corey, but I think his macd is 3,10,16
Corey Rosenbloom, CMT · 1 month ago

I use the 3/10 Oscillator - you can read more about it here:

http://blog.afraidtotrade.com/how-do-i-create-t...

Thanks Missyotto for the quick response!
terlyn · 1 month ago

Although I think it's time for the dollar to rally, I am guessing the high volume is short covering. But maybe that doesn't matter, as it didn't matter for this stock market rally.
Corey Rosenbloom, CMT · 1 month ago

To an extent, probably, in that the sentiment is so bearish on the dollar (people think it is going to collapse) and so any upward move could trigger a short-squeeze. But most traders I suppose don't necessarily short the UUP as buy the UDN which is the Dollar Bearish ETF so not all the volume is short covering necessarily in the UUP above. We're not really seeing the same volume surge in UDN right now.
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Dan de Man · 1 month ago

Real traders don't use these types of services. They read charts and make their own informed decisions.
Corey Rosenbloom, CMT · 1 month ago

Thanks Dan. I removed the spam comment here.
Dan de Man · 1 month ago

YW Corey. And thank you for your wonderful blog. Have a great day!

Cheers,
Dan
Bob · 1 month ago

Good post! It's important to step back and take in the broader perspective, and the influence of the USD is arguably the most significant leading macro influence.

Cheers!
Corey Rosenbloom, CMT · 1 month ago

Very true! All eyes really are focused on the Dollar and its movements and the implications for a potential trend reversal.

If the dollar keeps falling, gold, oil, and stocks will bust through overhead resistance and keep rising.
Dan de Man · 1 month ago

As a betting man, I would have to guess double top on gold and oil. Then we make the big money on the down side. Then I go buy new iMacs for my kids and a new car for the wife.

Those bulls tried to fool us again with a bear trap. LOL
Corey Rosenbloom, CMT · 1 month ago

Haha.

Anything is possible and it's so difficult to call the turn of such a strong trend in real-time. Sometimes it's best to wait for trendline and moving averages breaks, but when those set-in, and the trend does reverse... that will be a big cross-market shift.
Dan de Man · 1 month ago

That's very good advice Corey.

Thank you :o)