The Japanese Stock Market ( The Nikkei ) is now down -638 points as Americans start “waking up”. China has cratered.
How are the long JPY trades going? – Absolutely golden!
The relationship between “risk appetite” and The Japanese Yen ( JPY ) has never been more clear, as short trades in AUD/JPY, NZD/JPY, CAD/JPY and USD/JPY have produced some 5-600 pips in only a few short days.
USD trades remain flat, as the continued concerns about Greece keep EUR ( the polar opposite of USD ) in a continued state of flux/confusion.
This is not about Greece. It’s about China. It’s about global appetite for risk…and it’s about the big boys making a speedy exit with profits in hand, as The SP 500 “continues” to make lower highs and lower lows ( the definition of a down trend ).
This is certainly not over. It’s not a dip to be bought, as we’ve been on the other side of the mountain for days now.
Protect yourself, as I “remain” short risk.