Charts I’m Watching: Nov 5, 2014

While the talking heads are focused on the election results, it is Kuroda’s latest antics that have S&P futures up 13 points this morning.  Apparently not satisfied with going “all-in”, he emphasized last night that he is more than willing to go all-in’er.  USDJPY shot back through the yellow .786 and nearly reached the 1.618 extension of the drop from Monday’s highs.

2014-11-05 USDJPY 15 0600Given ES’ action, SPX is pointed right at Monday’s highs.  I’ll be watching to see if we get some drama around the .886 at 2022.

2014-11-05 SPX 15 0600Interestingly, NKD still hasn’t topped the .618 of its drop from Monday.  Keeping the powder dry, or a sign of a pop and drop?  We’ll see.

2014-11-05 NKD 15 0600Keep an eye on the futures action after the cash open for some hints as to the strength of this leg higher.

 

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