Back on July 6 I suggested 'perhaps we should just concede July to the bulls. I suspect we need to be patient another week.
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Author: ChrisC
Bad Breadth
Diverging breadth in the S&P 500.
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One Market
Two markets, united as one through a currency pair.
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click chart to enlarge The Money Printing Pump - big picture
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The Money Printing Pump - short-term
The Yen Matters
Feb. 2016 Sharp dollar yen rally on NIRP news carries into resistance and then fails spectacularly.
July 2016 Sharp dollar yen rally on Helicopter Money speculation carries into resistance and then ????
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click chart to enlarge
Solunar Harmony
All four markets with Solunar Models are following current seasonal direction; stocks up, gold down, oil down, rates up. I note that the Solunar Models have periods of effectiveness and periods of ineffectiveness. They are most effective when markets are emotional.
click chart to enlarge Short term topping.
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Nikkei still lagging.
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In yen terms, S&P rally is move back into resistance.
The Yen is Driving the Bus
click chart to enlarge Is the great yen rally finished?
click chart to enlarge Another +2% up is implied for the Nikkei tonight. If Japan isn't strong, expect U.S. weakness tomorrow.
click chart to enlarge No divergence here.
Weekly Update
The dollar will need to rally versus the yen if this stock rally is to continue.
click chart to enlarge The Nikkei should jump tonight.
click chart to enlarge Get a room you two!
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Not Bearish
Perhaps we should simply concede July to the bulls?
Five charts - five bullish arguments.
click chart to enlarge Short-term overbought, but no divergence, healthy.
click chart to enlarge Short-term overbought, but no divergence, healthy.
click chart to enlarge Relentless