Sequence

 

click chart to enlarge

The strong dollar correlates with weak equities correlates with a strong yen.  But notice how they move in sequence. First the dollar strengthens, then stocks fall, and finally the yen rises. The dollar has begun to to strengthen again.

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Waiting

I'm a patient bear.

click chart to enlarge This chart doesn't reflect whatever China is doing in January, as those numbers aren't released til mid Feb.  It includes latest QT reduction from the Fed for this week.

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