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This Is The Only Chart You Will Need Today



September 20, 2011 – Comments (0) | RELATED TICKERS: UUP , USO , COP

Traders and investors must follow the U.S. Dollar Index (DXY) very closely. The major stock market indexes are trading inverse to the U.S. Dollar Index at this time. If the DXY declines or pulls back intra-day the major stock indexes will inflate and trade higher. The opposite is true if the DXY trades higher, obviously the major stock indexes will deflate and decline lower.  

Some stocks that will generally decline on the back of a stronger U.S. Dollar Index (DXY) will be the United States Oil Fund (NYSE:USO), ConocoPhillips (NYSE:COP), BHP Billiton Ltd. (NYSE:BHP), and Rio Tinto plc (NYSE:RIO). These same stocks will often catch a bid and trade higher on a weaker U.S. Dollar Index. Traders should remember, this market is being moved by the U.S. Dollar Index.

Nicholas Santiago

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