Is it Safe?

Is there any amount of CL ramping that can compensate for what’s going on in USDJPY? Apparently so, because the eminis are off only 10 points in the midst of a USDJPY bloodbath. Were it not for CL’s coincidental 1.25% rally, it would be much, much worse.

SPX tagged yesterday’s target, then eased a little lower still — meaning the next downside target was probably in play. Look for it to be nailed in the opening hour.

BTW, don’t watch the above clip if you’ve a dentist appointment any time soon. Otherwise, it’s a masterpiece. Enjoy!After that, it’ll depend on when the BoJ blinks.