Equity markets are turning, but like a large ship it takes time.
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Author: ChrisC
Monthly Update
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Nikkei and S&P in yen terms have topped - expect S&P in dollars to follow.
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Stocks helped by very weak dollar on Friday. Tuesday's new moon may end that trend.
StimuLess?
Will the market's appetite for stimulus be satisfied by the BoJ this evening?
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Yen Time
Daily sell signal in dollar yen today. The S&P WILL follow.
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Three sell indicators fired today - RSI divergence, Cycle-Trap, and Net Line Sell.
click chart to enlarge Stocks will catch up to dollar yen post-Janet.
Weekly Update
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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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