Monday, October 18, 2010

10/18 10:15

The dollar index futures have given their buy signal. 
  However, this occurred during overnight trading.  I bought an additional 1% DX futures at 77.34 based on DX 90-minute close exceeding 77.63.   This should be confirmed by UUP ETF exceeding
22.45 on an hourly close.
The fate of the dollar is a lynchpin for stocks and commodities and is important enough to warrant confirmation in cash and futures markets.
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2 comments:

  1. pimaCanyonOctober 18, 2010 at 7:53 AM

    Good morning, Steve.

    Will you use DX and UUP for confirmation or non-confirmation for other trades such as crude? Do you have a specific price on CL that if exceeded you will close your SCO trade?

    POMO today, Wednesday, and Friday. They're doing everything possible to keep the markets up into the elections.

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  2. SteveKotelesOctober 18, 2010 at 8:39 AM

    DX and UUP will allow me to increase my commodity shorts. I'm not short crude futures now but want to be. Of course, this will also increase the short stocks probabilities although it will not cause me to increase stock shorts.

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