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Warning on the Dollar COT Report

Another name for the expanding or inverted triangle is a "Broadening Top," but since this is not a pattern that has gone on for weeks, I would not classify it that way since it isn't so "Broad."

There is an ETF that has a well defined broadening top that I will be touching on next week.

For those looking for a bullish play on the Dollar, symbol UUP is the exchange traded fund for U.S. Dollar Bullish and for those who are looking to short the dollar, symbol UDN, is U.S. Dollar Bearish.

Dave Fry did an excellent article on the Top Ten Established Currency ETFs back in December of 2011.



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-- Follow this writer on Twitter/ScottPluschau

Comments are welcome at Scott.Pluschau@etfdigest.com.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.
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