Fri, 11 Apr 2014 13:00:00 GMT Equity indexes and key yen crosses have been pushed to the edge of their prominent bull trends. If they take another step, we could very well find ourselves in the first market-wide and momentum-driven risk aversion move since the 3Q 2011. However, we have been holding our breathe for a cleansing fire in speculative positioning for a long time; so it is important to me to seek serious confirmation before building up a serious position on this view. Should equity indexes break their important and immediate technical floors (1830 for S&P 500 and 13,850 for Nikkei 225), it would go a long way to generate an underlying trend. If we do make that move, my first look will be to the yen crosses.
Posted on: Sun, 13 Apr 2014 18:53:57 +0000
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