The Invesco DB U.S. Dollar Index Bull ETF (UUP) has been in a surprisingly strong uptrend with a 12-month trailing Sharpe Ratio close to 2.0. Following the July FOMC meeting and evidence of softening labor demand, UUP had its largest single outflow of funds in its history. Our intermediate term mean reversion indicator for UUP has dropped below 2.0 signaling the fund is oversold.
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