Charts I’m Watching: May 25, 2016

SPX made its way to our channel top yesterday, thought about it for a nanosecond, then broke out forcefully.  While the housing data helped, most of the gains were already in the bag on the back of a massive 3.6% rally in oil, and an almost as impressive 1.11% ramp job in USDJPY.  2016-05-25 USDJPY 60 0615The USDJPY rally would be more impressive had it not taken the pair to some pretty heavy resistance.

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