It’s been a great run, but markets look set to bounce here with the SP 500 finding support area around 1880.
Long JPY trades closed, as a “swing low” on daily charts ( when tomorrow’s closes “higher” than today’s high ) should confirm a short-term move to the upside.
This will be a bounce, but considering volatility these days one can’t say for certain just how “big a bounce”.
Technical damage to markets is massive. I expect we float /drift sideways for the next couple weeks – offering few decent trading opportunities.
Stack all the cash you’ve recently made long JPY / short risk and go hit the beach for a couple of days. You won’t miss a thing.
The weekly charts in SP 500 and Dow now clearly broken.
We move lower here….like weeks lower…so don’t get caught buying dips!
We sell rips in this environment so what you are looking for are strong “daily closes” in order to find higher levels to continue to “add short on”.
Find “max green” intra day / week to continue loading short.
Long JPY the biggest winner ( as you guys already know this! ) with Commods like AUD getting punched in the knee.
Looming buys in both EUR and GBP vs USD but likely not for a few days…..legging in as soon as this evening / late afternoon tomorrow.
A fantastic start to the new year with equity markets in particular – showing their hands early.
Today looks fantastic as currency markets are essentially `giving us the day to catch up`….with little movement in USD itself – but OBVIOUS movement in JPY as risk sells off hard.
You guys know this…..this should look very straight forward at this point as the clear trade is still Long JPY vs Commods….as well short USD coming up here again soon.
These pairs are a given as risk falls off the cliff, while we get another full day ( or two more perhaps ) before USD rolls over and `those` pairs get added to the pile.
I wish it was more exciting at times too folks…however after a time…this just gets redundant.
We are going lower…..days lower…….weeks lower.