Yen wa suge desu ne?
Yen wa suge desu ne?
UPDATE 12:19pm EST: While equities are embroiled in a life or death struggle let’s look across the pond at the Yen futures:
I never counted waves in the Yen, but its recent action leads me to believe that we might be close to a bounce here. Above a chart with two possible counts – again, this is early stage and I’ll have to monitor it for a while to develop more confidence. It’s also scraping its 2.0 BB, so let’s see what happens in the next few days. I was tempted to load up on some FXY but it just shot up – as the super short term stochs indicate an overbought condition now I’ll wait a little.
UPDATE 12:46pm EST: Ding Ding Ding Ding Ding!!
Gold quietly crept across the 1000 mark – it’s been almost a year since we saw those levels the last time. No, it’s not ready yet – not buying those puts just yet.
UPDATE 12:50pm EST: We are getting closer to a possible mini-crash:
Enough said.
UPDATE 12:54pm EST: Things are moving fast now XLF barely holding 7 by a penny and Gold at 1007 almost.
