Nervous About Central Banks?

The next several days will be completely under the control of central banks.  Whether that comforts you or makes you nervous says a lot about your faith in central planning.  Are you comfortable constructing a diversified portfolio with loads of potential alpha and staying long through whatever economic headwinds lay ahead, knowing that central banks will prevent any serious downdrafts?  Then, this is your market.

If, on the other hand, you have your doubts about the effectiveness of their strategies and see them as having painted themselves into a corner, you’re right to be more than a little nervous.  A quick glance at USDJPY’s schizophrenic behavior last night shows that you’re not alone.

2016-07-27 USDJPY 5 0600We’ll take a look at the various tools they’ve used to influence equity prices and see if we can divine their next moves.  We’re on a bit of a roll following yesterday’s tag of our downside target from Monday morning.

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