Charts I’m Watching: Jul 12, 2016

Technically, SPX reversed yesterday at the 1.618 extension of the drop from 1576 to 666 between Oct 2007 and Mar 2009.  In an unrigged world, we’d call the move from 1810 to 2143 a truncated 5th wave and get ready for a massive sell off.  2016-07-12 SPX 5 0535But, with more and more talk of helicopter money in Japan, and rapidly rising CL and USDJPY, it’s hard to imagine.

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