Charts I’m Watching: Apr 7, 2015

Another day, another central banker propping up the markets…

So, Dudley isn’t so sure that the recovery is exhibiting the strength necessary to allow the Fed to raise rates?  What a huge surprise — except to our regular readers (not so sure about the irregular ones…)

The Fed can’t afford a rate increase any more than they can a rebound in oil prices, a slump in the dollar, normalization of stock valuations, requiring banks to markU securities to market, etc.

CL ran out of room at the .886 as expected…2015-04-07 CL v DX 60 0615…though USDJPY was happy to take up the slack.  Unfortunately, it has also run into overhead resistance — at the yellow .618 at 120.11.2015-04-07 USDJPY daily SMA 0615Futures are maintaining yesterday’s CL-driven rally highs, but weren’t able to break through the TL  from October.  Together with USDJPY and CL topping out, not a great sign for bulls…2015-04-07 ES daily SMA 0615One potential ray of hope comes from across the pond.

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