Monday, July 6, 2009
DBA is moving within a channel. If we want to go long, be aware on how you see the US dollar Index. I do not have a clear signal to go long or short in UUP. Here is the chart of the UUP (PB USD BULL ETF):
And here you can see the correlation between UUP and DBA. Notice that there is a period (from Dec. 23 2008 to Jan. 6 2009) in which both ETFs have positive correlation. The rest of the year the correlation had been negative.
DBA daily Chart:
DBA Weekly Chart:
Posted by Maximiliano at 7/06/2009 11:23:00 PM