Sorting

It's been a rough week for conventional wisdom in many forms. Markets are soring winners and losers from the wreckage of conventional wisdom.

1112163dnh

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111216converge

click chart to enlarge The S&P has re-synced with the Nikkei, closing the recent lag.

111216goldyen

click chart to enlarge Gold says dollar yen higher.

111216dollaryenwhere

click chart to enlarge Relative balance sheet size says dollar yen much higher.

111216pumpsmall

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However, dollar strength depresses the balance sheet money pump denominated in dollars. A problem for stocks later.

111216bigpump

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111216spxad

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