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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Category: Euro
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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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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Brexit, Pursued by a Bear
Extra credit if you caught the literary reference in today's title.
Mobile c.1932 Alexander Calder 1898-1976 Lent from a private collection 1992 http://www.tate.org.uk/art/work/L01686
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The five tops hang from the Spiral not unlike an Alexander Calder mobile.
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A Matter of Gravity
I suppose the Brexit question is whether Britain can escape the gravitational pull of Europe. I'd rather watch than guess until this Brexit madness is done with.
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