When it comes to stocks, it's all about the Dollar the last four weeks. The chart below shows the Euro Currency Trust (FXE) rising along side the S&P 500 ETF (SPY). The bottom window shows the Dollar Bullish ETF (UUP) falling. A weak Dollar makes US exports more competitive and acts as a economic stimulus.
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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