Once again, the U.S. Dollar Index futures faded after the opening bell rang at the New York Stock Exchange. Nearly every trading session when the U.S. Dollar Index is higher before the market opens for official trading it will fade and sell off. Well, today was no exception as the U.S. Dollar Index pulled back by over 0.20 cents from its pre-market high. When the U.S. Dollar Index declines, stocks and commodities will inflate and trade higher. The chart of the U.S. Dollar Index is by far the most important chart that any trader can follow. Traders that do not have a chart of the U.S. Dollar Index futures (DX M2) can follow the PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP).
Some leading equities that will generally trade inverse to the U.S. Dollar Index include Sprott Physical Gold Trust (NYSEARCA:PHYS), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), and the iPath Dow Jones UBS Copper Total Return Sub-Index ETN (NYSEARCA:JJC). All of these equities have traded off of the intra-day lows as the U.S. Dollar Index pulled back.
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The Chart That Saved The Markets Again
Published 05/03/2012, 09:08 AM
Updated 07/09/2023, 06:31 AM
The Chart That Saved The Markets Again
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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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