Many traders and investors are focusing on the corporate earnings that have been released over the past couple of weeks. While earnings have been somewhat on the weak side so far, it is the action in the U.S. Dollar Index that moves markets. As many of you may know by now, when the U.S. Dollar Index declines the major stock indexes such as the ProShares Ultra Dow30 (ETF) (DDM), and the ProShares Ultra S&P500 (ETF) (SSO) will trade higher. These same ETF's will decline when the U.S. Dollar Index rallies and trades higher on the trading session. In other words, it is the action in the U.S. Dollar Index that moves markets.
Traders can easily look at the chart below and see how the S&P 500 Index almost inversely mirrors the action in the S&P 500 Index e-mini futures (ES-Z2). Other leading equities that will trade inverse to the U.S. Dollar Index include ProShares Ultra Silver (ETF) (AGQ), Deutsche Bank AG DB Gold Double Long ETN (DGP), and the ProShares Ultra DJ-UBS Crude Oil (NYSEARCA:UCO). You will notice that all of these equities mentioned are commodity related.
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The Greenback Is The Market
Published 10/23/2012, 12:36 AM
Updated 07/09/2023, 06:31 AM
The Greenback Is The Market
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