USDJPY 4 HOUR CHART – WATCH THE TRENDLINE
Key BOG FIGURE LEVELS levels 152 and 155 after 152 held
Key line on the chgart is the trendline at around 154.84, if broken it would ease some technical pressure but 155+ would be needed as well.
Focus next on US PCEm the Fed;s favored inflation indicatpr.
REMINDER, BOJ MEETING NEXT WEEK.
S&P 500 index
After sharp slide, seeking to stabilize – Major News Media
But looking at the chart, things are not even close to stabilizing – Guess they are trying to go with some self fulfilling prophecy of a kind…
Last line of Defence for S&P is in 5.300 area. If it holds, I’ll call it as I see it…
So far I see a deeper correction and a violent one, but no need to wake up Bears – Yet.
Nasdaq 100 – NDX
Tech-led selloff drives record volume in NDX options
The selloff in U.S. stocks is driving record trading options on the Nasdaq 100 Index NDX as the tech-heavy gauge is battered by turbulence in giant tech stocks.
The index – in which about 70% of the companies represented are tech – has slipped 7% from its July 10 record high in a tumble that has rattled the megacap names which have powered markets higher this year. By comparison, the S&P 500 is off 4% from its record, also set earlier this month.
EURUSD Daily
Supports at : 1.08250 , 1.08100 & 1.07850
Resistances at : 1.08700 , 1.08900 & 1.09250
1.08100 is a turning point – If eurusd find a footing there, this Drop can come out as a Correction – only, but if lost, a full Wave should unfold to at least 1.07000 area.
Close tonight below 1.08550 will be Bearish signal.
Yesterday I suggested a very low priced stock for stock enthusiasts with not much money to work with, GROY. A gold stock. The delta is 100%. Today there ratio of calls to puts is 329% in favor of the calls (buy side). This stock does tend to move in a somewhat decent fashion with gold itself. Food for thought.
With some luck Swiss Franc futures selling will make it to around 1340 before rebounding. A little tough with current Geo-political climate but other conditions support that unfolding such as the Euro economy cooling in tandem with the US but the US is stronger and there is that little thing called interest rate differentials and rotation in stocks into low cap stocks for growth and out of primaries in favor of hedging risk.
I don’t just look at lines all day. I deploy a very neural approach.
Very simply Dxy holding 104.05 so far is significant and portends to an upside draft. In addition as long as the 2yr note is holding below its point of control (the most significant volume of bids/asks) (this is not based on a volume profile, you won’t find it there, it is proprietary) of 102.20 it is likely to sag toward 102.15 or possibly 102.14 which will help shorter term yields and the Dollar. Forwards and other items are south longer term and only on the buy side in the nearer term contracts. Nothing has changed the overall dominant upward bias in short term US notes. So while Dollar is a bull I wouldn’t count on riding it for much longer.
Meanwhile:
SAO PAULO, July 24 (Reuters) – Sharks off the coast of Brazil’s party city Rio de Janeiro have tested positive for cocaine.
Certainly those sharks were all trading spot currencies as well.
It appears players have found motivation to get out of short YEN
making YEN top mover.
this morn european stock are bleeding red aping byesty bleeding in the US
VIX is uP, rfeflecting the trading crowd dumping riski assets and switching to “safer” ones (like the swissie or thew dlr)
08:30 NYT Data Deck:
expecting only some – i.e. mild – reaction , nothing to change the Earths rotation
FRAUD
– only when a scam is successful can it be described as fraud
– for a fraud to be considered successful the scam operator must not ever be caught.
Two Canadian journalists – Zak Vescera & Adrian Ghobrian – are left w/ jaws agog
Canadian company at the centre of alleged international pyramid scheme: authorities
A Canadian company – Metaverse Foreign Exchange Group Inc., also known as MTFE, pitched itself as a reputable online trading platform – is at the centre of an alleged pyramid scheme that foreign officials say stole more than US$2 billion from hundreds of thousands of people in Sri Lanka and Bangladesh, according to authorities in those countries.
Efforts to locate MTFE’s sole Canadian director, Randy Mathieu Lane, who had a listed address in Richmond, B.C., were unsuccessful.
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