It's all about liquidity here. The FX Weathervane is showing us whether liquidity is entering or leaving the market.
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The moving average is positive for the first time since June 29.
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It seems to me the Japanese attempts to save their stock market with liquidity is spilling over into the U.S. market.
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Buy the Dip will work again..... Right?
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The degree of the just-formed top is likely underestimated by all.
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The NDX beast is mortal!
Today only - the video discussion is in front of the paywall.
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Here's a slower moving average on the FX Weathervane data. It shows the deterioration in liquidity in recent weeks.
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Afternoon weakness looks to end this standoff between horrendous breadth readings and reasonable momentum. The bears will win this one.
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Monday is VERY important.
My thoughts inside.
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This was a VERY strong reversal in the FX Weathervane on Friday.
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Market internals are terrible, but momentum remains healthy. Internals will win in due course.
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