Charts I’m Watching: Dec 28, 2016

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.2016-12-28-usdjpy-v-es-60-0630While 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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