- Technical Market Commentary -

November 11, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — The PowerShares U.S. Dollar Bullish ETF (NYSE: UUP) has reversed off long-time support levels and should have higher to go.

In March of 2008 UUP reached lows of $22.00 per share. In November of 2009 UUP reached lows of $22.02 per share. On November 4 of this year, UUP closed at $21.97 per share, after reaching lower intra-day lows. Since that date, shares have rallied.

The expectation is for continued gains, but first UUP needs to break out above $22.70 per share — a level that held-back two prior rallies from continuing.

The past three weeks have seen volume double, adding to the expectation that higher highs are ahead. Potential for shares to reach the $24.00 level is good. Putting a sell stop just below $22.00 per share, a bullish trade, offers an excellent opportunity for strong upside gains.

(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

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The FirstAlert(tm) Economics Calendar lists Veterans Day Holiday – Some U.S. Markets Closed.

The FirstAlert(tm) Events Calendar showcases MRK, CELG and JNJ at the Credit Suisse Group Healthcare Conference; MSFT, GME and RLD at the BMO Capital Markets Annual Digital Entertainment Conference; XOM, APA and BAS at the Bank of America Merrill Lynch Global Energy Conference.

The FirstAlert(tm) Earnings Calendar highlights 21st Century Holding; BT Group PLC; Edinburgh Investment Trust; Japan Wind Development Co Ltd; Microsemi; Ocean Bio-Chem; Saraiva S.A.

FirstAlert(tm) Website of the Day: http://www.usmc.mil/almars/almar2000.nsf/0/9ff3e88355038fed85256c5d00719b94?OpenDocument

Quote of the Day: "No good decision was ever made in a swivel chair." — General George S. Patton (11/11/1885 – 12/21/1945)

Word of the Day: saccade \sa-KAHD\, noun: 1. The movement of the eye when it makes a sudden change, as in reading. 2. The act of checking a horse quickly with a single strong pull of the reins.

In context: “He added the bill with a single saccade of his pulsing eyes.” — Will Self, My Idea of Fun: A Cautionary Tale

(Saccade originally refers to horsemanship and begins as the Middle French saquer, "to pull violently.")

Today is: Veterans Day

Happy Birthday: 1981 – Natalie Glebova (Russian, Miss Universe 2005)

Today in History: 1921 – The Tomb of the Unknowns is dedicated by US President Warren G. Harding at Arlington National Cemetery.

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