The Japanese are turning the pumps on once again! I'm trying to get a handle on total money printing. I've built charts showing combined FED, ECB and BoJ assets in dollar terrms. The thing is, with the yen collapsing on the announcement of more Japanese printing that hasn't occurred yet, this pump measure is falling sharply. This new pump measure seems very effective as a 10-day leading indicator for the S&P 500 in recent months.
click chart to enlarge