Charts I’m Watching: Apr 30, 2015

Real investors are troubled by what they see.  But, so far at least, TPTB have been able to keep the crap game afloat.

If we didn’t know any better, this would be a great time to get really, really nervous.  But, fortunately, our analog provides a great road map as to what to expect in the coming month or so — starting with today’s dip to 2090-2092 as forecast a week ago [CIW Apr 23, 2015]:

I’d be shorting here at 2118.85, with a target at 2090 and stops at 2125 or so.

The US dollar is threatening to break down.2015-04-30 DX v ES daily 0615The euro is threatening to break out.2015-04-30 EURUSD daily 0615 The yen is acting positively schizophrenic — going nowhere during yesterday’s turmoil, and dropping like a rock today.

2015-04-30 USDJPY daily 0620 And, CL continues to make new post-crash highs.

2015-04-30 CL v DX daily 0620

Despite all the noise — and, that’s exactly what it is — we’re still quite comfortable with our SPX targets.

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