Is it Autumn yet?
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Some separation here. Three ways this chart converges - Nikkei falls, S&P rises, or dollar yen rises.
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The breadth oscillator is punk.
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Beachy
DullDrums
Deconstruction
Weekly Update
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The first two charts are arguably bullish, with stocks appearing to have weathered a pullback with minimal price damage.
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That weak dollar sure helps keep The Money Printing Pump in expansion mode.
click chart to enlarge Dollar yen and gold are the same market these days.
click chart to enlarge The Nikkei and the S&P priced in yen is also the same market.
click chart to enlarge Quod erat demonstrandum, the Nikkei and S&P in gold are the same market, as indeed the chart shows they are.
Patience
Equity markets are turning, but like a large ship it takes time.
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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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