NKD finally tagged our next downside target yesterday, enjoying a huge 5.3% bounce afterwards.It was made possible by USDJPY. It’s been a month since USDJPY began forming the triangle that has whipsawed markets on a daily basis. Yesterday, after the US close, it broke out. But, it’s not out of the woods just yet.
Note that it’s still being constrained by the SMA200 — which means SPX might not go anywhere after this morning’s initial pop.
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