It's been a rough week for conventional wisdom in many forms. Markets are soring winners and losers from the wreckage of conventional wisdom.
click chart to enlarge
click chart to enlarge The S&P has re-synced with the Nikkei, closing the recent lag.
click chart to enlarge Gold says dollar yen higher.
click chart to enlarge Relative balance sheet size says dollar yen much higher.
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However, dollar strength depresses the balance sheet money pump denominated in dollars. A problem for stocks later.
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click chart to enlarge