Do I dare suggest that we’ve finally come to the turn?
As per The Nikkei chart posted ( well…..again here today! ) I do hope the odd “nay sayer” out there has opened their eyes just a “touch further” to put together a clearer picture of what’s been going on these past few months.
Nikkei_Weekly_Forex_KongNikkei_Weekly_Forex_Kong
With The Fed’s “supposed taper” ( which hasn’t been a taper at all…only that the money has found its way into markets via “other means” – ie….Belgium ) highly liquid “floating mounds of Japanese Yen” have continued to come ashore in the U.S seeking yield.
The U.S Dollar hasn’t done “jack squat” for The U.S, short of keeping the Wall St bankers coffers “fat” and allowing for even further risk / exposure in investing in emerging markets and NOT AMERICA.
As the Japanese stock market falls and “risk off” takes hold…..Yen is repatriated…( flowing back to Japan ) as U.S Equities are sold ( in U.S Dollar terms ) then “converted back to JPY” in order to come home to bank accounts in Japan.
All you need to watch / worry about these days is the “coming breakout in Yen” and the waterfall effect it will have on U.S Equities and global appetite for risk in general.
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What are you gonna do then ? Just sit there and pout?