The UUP ETF already hit its measurement at 22 and now the over bought Uncle Buck is nearing its measurement at 83.50.  One valid question in trying to plot Unc’s future is how long will the Fed choose to sit by and hold ZIRP as the economy strengthens?

Personally, I don’t understand how they can conduct this Kabuki Dance where half of them fret about being too dovish and the other half of them act as if they can maintain ZIRP-Infinity (or even ZIRP-mid/late 2015).  The economy is strong, the currency is strong and the stock market is strong.  What could go wrong?  Why not normalize rates in 2% chunks beginning next week?  Ha ha ha…