03/23/15 03:31 PM EDT

UUP: Adding the U.S. Dollar to Investing Ideas

Takeaway: We are adding the U.S. Dollar to Investing Ideas.

Editor's Note: Below is a brief note written earlier today by Hedgeye CEO Keith McCullough. Our macro team will provide a deeper update this weekend.

After a -2.4% down week, the US Dollar selling continues this morning, by another -0.8%. While there haven't been many pullbacks to signal buy on in the last 6 months, this appears to be one of them.

US Dollar Index (and UUP) are signaling immediate-term TRADE oversold within its bullish intermediate-term TREND.

Europe and Japan have worked hard to devalue their respective currencies. I expect both of them to so more of the same next.

UUP: Adding the U.S. Dollar to Investing Ideas

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