USDJPY reached our 118 target overnight. We charted this target over a year ago [see: USDJPY’s Turn] following USDJPY’s breakout from the falling purple channel [see: The Usual Suspects], reasoning that the Bank of Japan would ramp up the yen carry trade in order to support the Nikkei’s breakout. The BoJ rarely disappoints, and they … continue reading →
Tag Archives: DX
They’ve done it before. And, it’s the only action that could truly punish Russia while helping to solve the inflation problem. The charts fully support it, with loads of logical downside targets just begging to be tagged. Yes, stocks would suffer too. But, you can’t have everything. And, if it gets underway quickly enough, there’s … continue reading →
Absolutely nothing? Well…vol came under pressure again last night despite the recent 10/20 cross and obvious escalation in risk of military action in Ukraine. Apparently the threat of war is good for stocks. Nevertheless, the futures heard and obeyed and continue to eye the VIX breakdown threat which works more often than not.continued for members… … continue reading →
Russian troops entered Eastern Ukraine following its formal recognition of the two separatist regions, marking an escalation in the seriousness of the Ukraine crisis. Futures fell over 94 points from Friday’s close before the algos kicked in and are now down less than 10 as we approach the open. continued for members… … continue reading →
In a CNBC interview this morning, Fed President Jim Bullard said “Our credibility is on the line here…” Anyone paying any attention to the Fed knows that that ship sailed a long time ago. Futures have been all over the map, down as many as 55 points before VIX was hammered following a false news … continue reading →
Futures are off modestly as we approach the open. Aside from a few formerly shiny objects… …all eyes are on Thursday’s CPI. continued for members… … continue reading →
Futures are up slightly as we approach the open – an extension of the bounce off recent lows. continued for members… … continue reading →
COMP’s breakdown caught a lot of people by surprise (though thankfully, not everybody.) Likewise, its bounce has turned more than a few heads. As it approaches a backtest of its channel line and SMA200, what can we expect? And what does it mean for the broader market? continued for members… … continue reading →
10Y yields briefly poked above the Mar 2021 highs, adding to the drama surrounding next week’s CPI report. Meanwhile, December NFP came in at +199K, less than half consensus, while the unemployment rate dipped to 3.9% and wages continued to strengthen. Remember, this was all pre-omicron. Futures were not amused. While ES held its 50-DMA … continue reading →
Companies and individuals alike are cutting back their activities as the omicron outbreak continues to accelerate. Many companies, short of employees, supplies, or customers are raising pay, trimming back hours or cutting product offerings in order to stay afloat. Individuals are cutting back their activities in order to stay healthy. Though not official, the shutdown … continue reading →