Yen – Page 10 – Spiral Calendar

Mixed Month

Gold and oil have both surged as expected. Seasonal influences remain on the bulls' side for stocks for a bit longer.

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Weekly Update

The next leg up in gold lies directly ahead.

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No Quit

The Central Bankers aren't giving up without a fight.

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I expect gold to catch up with a move higher now.

video discussion within for subscribers.

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One Market

Japan and the US are one stock market when seen through the lens of a single currency.

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I am embarrassed. Previous charts of this relationship were incorrect. They showed the S&P in euroyen terms, not yen terms. I apologize. The correlation is quite a bit tighter now. The weak dollar versus world currencies had been helpful during the recent rally. A weak dollar versus the yen is not helpful.

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Quartered

The intraday chart is set up for a potential island top, but given it is the end-of-quarter tomorrow, another day of prices holding seems likely. But Yellen's rally doesn't have much power behind it.