Holiday weekend + Tuesday + 1900 barrier broken = strong ramp.  NKD hit an imporrtant Fib level and the SMA100, but is probably aiming for the SMA200 and purple .618 combo at 14787/14796.  At some point, folks will start to realize the yen carry trade is nearing an end.

While, USDJPY features a nice Fib target of the combination red .618/blue .886 at 102.18 — just below the SMA50 at 102.22.

What does it mean for stocks?  continued for members…

By exceeding the Apr 4 high, SPX has technically killed off the downside patterns that were shaping up.  So, we’ll need a new high from which to try and construct one that points to a downside target.  In terms of upside, 1918 looks like the next target.