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Technically the dollar has completed a bottom formation, as the weekly chart of the PowerShares DB Dollar Index Bullish ETF ( UUP) indicated on September 23.
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The PowerShares QQQ Trust ( QQQ), which tracks the Nasdaq 100 Index, exceeded the upper resistance from the flag formation on Tuesday (line a), but then closed lower, which is a short-term negative.
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The daily chart of iShares MSCI South Korea Index Fund ( EWY) is still locked in a wide triangle formation, lines e and f, but the fund is still up 5% since June 24, outperforming SPY by 3%.
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The chart of iShares MSCI France Index ( EWQ) on the bottom right looks very similar though its flag formation was completed last Thursday.
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Chart Analysis : The iShares MSCI Brazil Index Fund ( EWZ) completed a reverse head-and-shoulders bottom formation last Friday, having closed above the neckline, line a.
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Chart Analysis : The iShares MSCI Brazil Index Fund ( EWZ) completed a reverse head-and-shoulders bottom formation on January 12 when the neckline, line a, was overcome.
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The iShares Russell 2000 Index Fund ( IWM) still shows a potential head-and-shoulders top formation as the neckline (line e) has been tested over the past two days.
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The iShares MSCI Japan Index Fund ( EWJ) gapped below support on April 4, which completed the daily top formation, lines d and e.
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The daily chart of the Powershares DB US Dollar Index Bullish Fund ( UUP) shows the breakout from a short-term double-bottom formation (line b).
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On the top right is the chart is the iShares MSCI Italy Index ( EWI) , which a few weeks ago appeared to be forming a flag formation, lines c and d.
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