Charts I’m Watching: Jan 3, 2014

USDJPY led the way yesterday as expected.  The channel dating back to Nov 7 looks to be breaking down — or at least tilting.

The task now for equities will be to maintain downward momentum in the face of all the FOMC cheerleaders out on the talk circuit and auto sales data puffery.

So far, the emini’s ramp job looks like a back-test of the broken red channel, but we’ll have to wait and see.

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