Market Summary

Short term market sentiment as illustrated by the background color of the right side of the image below has turned bearish. Although prices did get above the 110 area of resistance that price did not hold and a failure at that point could signal a reversal in the market trend. Click on image to enlarge.

I have added the PowerShares DB US Dollar Index Bullish (UUP)to the list below to start tracking the US Dollar. It is well know that when the US Dollar goes up the stock market goes down and visa versa. It is interesting to note that the UUP is green in the 1 Week and 4 Week columns, although just barely in the 4 Week column. This could be a double bottom in the dollar or just a bounce. Which it is we will just have to wait and see. Click on table to enlarge.