Noting the rectangles here, and the trend lines. Gold relation to dollar at support trend, dollar rolling over, and oil ready for a bounce higher, with all commodities. SPY is the mystery, which way will she go? Against all odds, could actually go higher form here? (would be weird, but it could happen 30/70 chance) More likely, it consolidates yet again, because it knows inflation and rising rates are just a click away, and traders have already baked a bit of it in indicated by reduced equity trade volumes (turning to options - those volumes have increased - more vol ahead), slowly stuffing profits from equities into the bond, gold, commodity, pockets (and out of dollars/cash because those values will soon decrease).
Comments
IvanLabrie
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Nice chart!
Here's my monthly perspective on USDJPY:
Today and tomorrow should confirm a considerably large short entry.
If moving under the previous monthly low, I see it retesting the levels below.
Here's my monthly perspective on USDJPY:
Today and tomorrow should confirm a considerably large short entry.
If moving under the previous monthly low, I see it retesting the levels below.