S&P 500 – Page 161 – Spiral Calendar

Who to follow?

Stocks followed dollar yen down in the morning, and oil up in the afternoon.

click chart to enlarge

Subscribe to see the rest of this post.

The Central Banks have struck back, with BoJ's move to negative interest rates on Friday. I'm not convinced the dollar yen rally is sustainable. But with a net-line buy on the weekly chart, we have to respect the potential for more USDJPY advance. The next few sessions are important for the currency, as we'll see if this move was simply a one-and-done or a part of a larger trend. More discussion inside!

click chart to enlarge

I'll believe the dollar yen rally more if gold turns lower.

Subscribe to see the rest of this post.

Under Construction

Stocks are building a structure. Is it a floor or a ceiling? A big move awaits.

click chart to enlarge

Subscribe to see the rest of this post.

Hourly Levels to Watch

Some interesting price levels are in play today on hourly yen and eMini charts.

Subscribe to see the rest of this post.

Engulfed

Not a good day for the bulls - charts and a video for subscribers inside.

Subscribe to see the rest of this post.

Who’s On First?

After seeing a few too many tweets stating that the oil market is leading this highly-correlated dance, I investigated last night’s sharp reversal and found it was dollar yen, not crude oil that set the trend.

click chart to enlarge

If world financial markets are depending on dollar yen now, we are in for some trouble, as the above long-term, as yet unconfirmed, head-and-shoulders formation on dollar yen shows.