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A Look at Two ETFs: FXE Euro and UDN Bearish Dollar

Bycjrosen

Last night, I took a look at the Bullish US Dollar ETF (symbol UUP) and noted its structure, positive divergences, and moving averages to watch. This morning, let’s take a look at two other related, though inversely correlated ETFs for the opposite perspective.

Let’s start with the Bearish US Dollar ETF (symbol UDN) to note a ‘mirror image’ structure and then take a look at the Euro Currency trust ETF (Symbol FXE) to show how the Euro trades inverse to the Dollar.

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Turnabout is Fair Play – SP500 Daily and 60min Oct 21

Bycjrosen

Well that was interesting. I’ve been thinking that when a pullback came (if it ever came) that it would be swift and sudden. This move down into the close is either the start of a tumult to the downside… or just one more in an ever-increasing series of failed sell signals (as mentioned in a prior post).

In any event, let’s take a look at the Daily and 60-min S&P 500 chart to see multiple divergences, overbought conditions, and a slicing through all lower frame moving averages.

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A Look at the 12 Most Recent Failed Sell Signals in the SP500

Bycjrosen

With today’s break to new highs both in the Dow and the S&P 500, I thought it would be interesting to take a look at the 12 most recently “failed” or “busted” sell signals in the S&P 500 to see if we can note a pattern.

Reference back to my prior post on “Recent Failed Short-Sale Signals and Short Squeezes in the SPY” and “If History Repeats, Will it Mean New High for SP500?” (answer “yes!”) for more perspective.

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Advanced Fibonacci Confluence Projection in SLV Silver ETF

Bycjrosen

I was doing some work on the Silver ETF (SLV) and wanted to show a simplified version of a potential ‘confluence projection’ zone at the $18 level which I found interesting and worth a look.I was doing some work on the Silver ETF (SLV) and wanted to show a simplified version of a potential ‘confluence projection’ zone at the $18 level which I found interesting and worth a look.