The Japanese Nikkei ( you know……my favorite right?) Is currently down -422 points – and it’s only lunch time in Japan. That’s a 2% drop in a matter of 4 hours trading.
We touched on it last week when I (once again ) encouraged you to take note of the currency pair AUD/JPY and also suggested The SP would fade, and China would sink.
I expect tomorrow morning’s open will catch your attention…not to mention “the crater in your portfolio”, as markets tank, Japanese Yen sky rockets and The U.S Dollar continues to tank.
Wall St. already dumped their dollars ( on you retail ) so don’t look to see USD going anywhere but DOWN along with U.S Equities. You can use tomorrow’s price action as an indicator.
EUR is solid as a rock as of this evening. You’ll understand it…….some day.
We are deep in the money all the way around with the same underlying theme….risk off = Yen to the moon and USD to the basement.
No one wants to hold U.S Dollars ( as they are continually viewed as “worthless” ) when risk comes off…..it’s like a big game of musical chairs.
“Down Dooby-Doo Down Down” – The music is ending.
Don’t be the last to take a seat.