This is the time of year when charts get downright silly. Stock prices, which are highly susceptible to algo-linked manipulation anyway, are completely under control in this low-volume environment.
A casual glance at the USDJPY chart bears this out. It’s nothing but a series of breakdowns which morphed into breakouts. The only saving grace of such an environment is that it sets several juicy trading opportunities for the new year.While indices never dipped appreciably as they might have in the middle of the month, our upside target remains unchanged and our analog remains on track.
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