All Eyes on Japan

To continue yesterday’s theme, we focus this morning on the Nikkei futures, which are testing a critical TL – again.  NKD is the first derivative of the BoJ’s manipulation of stocks via yen devaluation and, at times, leads “markets” in carry trade-oriented algorithms.

2016-02-09 NKD daily 0600This support, therefore, is critical not only to NKD, but to SPX and the entire yen carry trade complex. [see: Update on NKD: Feb 9, 2016.]

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