Chart Check: Major Indices, Dollar,Treasury Bonds

By | October 11, 2016

The sell-off today saw the S&P 500 test the support zone in the 2130 to 2015 range on the daily chart. It was able to manage a small recovery in the final 90 minutes of trading, but it was minimal relative to its overall range.

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The Russell 2000 took out its 50 day moving average, now the NASDAQ Composite is the only major market index still above its 50 dma, but it closed right on it.

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The PowerShares DB US Dollar Index Bullish Fund (UUP) spent August and September consolidating above the support line of the large triangle pattern it has been trading in on the weekly chart. This month it has started to move higher and looks like it wants to retest the triangle downtrend line. A break above that resistance could power the buck substantially higher.

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Interest rates are edging higher and the ProShares UltraShort 20+ Year Treasury (TBT) ETF has been trading above a downtrend line drawn off the highs since June last year.

One thought on “Chart Check: Major Indices, Dollar,Treasury Bonds

  1. Pingback: The Dollar Index Fund - Major Weekly Breakout - Rightview Trading : Rightview Trading

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