USDJPY Testing 35-Year Resistance
Below we have weekly close and monthly HLC views of USDJPY. On each we find lines (1) and (2) resistance. Line (1) is 35-year resistance for USDJPY dating back to ~1978. Combined with line (2) which runs to ~200, the…...
Set-Up for Nat Gas Appears Favorable
In the simply chart below of Nat Gas we find that it sits atop trend-line (1) support dating back to 1998. Absent a single, brief breach of this support in 2012, line (1) has acted as a solid launching pad…...
Palladium Decline Appears Set to Continue
About a month ago when palladium stood at $720 we noted in this post that it appeared to be decisively breaking multi-year (since 2010) trend-line support, per this chart. We built incrementally on our original palladium post with this one a…...
More QE Needed & Market Signals Suggest it Might be Coming
Hat-tip DC for idea of this post.. The handy chart below shows where the Fed has started and ended various QE programs and how the SPX has performed during those various campaigns. It’s cut-off is later 2013, so it fails…...
DJI Both Vying for and Augmenting Copper’s Status as the Nikkei’s Rosetta Stone
Over two years ago we began highlighting the similarities b/t the way the copper and the Nikkei ended their secular bears over the 1989-2002 and 1989-2008 periods, respectively. Specifically, we focused on the last few years in each of those…...
Gaining Additional Nikkei Clarity
Last week as the Nikkei began to break down on our post-pivot analog relative to expectations I was struggling to ascertain what was going on. We detailed as much in this post and offered a suggestion that despite that deviation in…...
Repeating Pattern in Long Bond Price Suggests its Decline (Yield Rise) to Accelerate
Following up on what we envisioned as its peak (and rates’ trough) from our Feb-2015 post on the subject, at the present time the price of the 30 yr UST is replicating a pattern that has historically signaled the onset…...
Could Palladium Weakness Spell Similar Trouble for Equities?
In an earlier post this week we displayed palladium’s ostensible break below multi-year, long-term trend-line support and suggested that break-down would be apt to precipitate accelerated downside in the commodity, as similar break-downs had in the past. Today we present…...
Palladium Beginning a Very Large Decline
In the chart below each of (A)-(D) have seen palladium break through muli-year trend-line support, thus ushering in quick, precipitous declines in the commodity when they’ve occurred. I believe a similar such break-down is occurring this week atop line (E)…...
Market Internals Don’t Appear to Portend Material Price Deterioration
Below you’ll find a chart of the NYSE adv/dec ratio on a 10 day MA basis with the SPX below it. Since the mid 2000s note that larger corrections (i.e., >8%) have been almost universally preceded by deteriorating, downward-sloping trend…...