UUP Dollar Bullish Fund Carving Out Inverse Head & Shoulders
Based on this pattern triggering on a move over ~21.60 you could expect a measured move to ~22 before hitting resistance. The timing of this breakout seems to be coinciding with market topping action which further strengthens the likelihood of this chart having predictive utility.
This chart taken together with today's breakout in Treasuries (TLT) and over 30% spike in the VIX this tells a tale of risk aversion and flight to safety into bonds, US Dollar and possibly gold.
This chart taken together with today's breakout in Treasuries (TLT) and over 30% spike in the VIX this tells a tale of risk aversion and flight to safety into bonds, US Dollar and possibly gold.
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