Monday, March 11, 2013

Still all about the Yen

This is the clearest correlation, still...

The only point the market gained any momentum with some ease rather than push/pull is when they Yen dropped here (red).

The Q's and IWM are still stuck in a rut and can't get above the gap.

Whether the SPX and DIA can hold any gains, even these with those two on their backs is doubtful, if the Yen changes course I'd say very doubtful.

What is still puzzling is there seems to be something clearly acting as a weight on the market, I just can't find it, other than perhaps the Yen as we see what happened when it gave some ground, but still the Q's and IWM weren't able to do anything with that and to make it worse for the Q's, it looks like AAPL's chance to try to run toward the gap is fading

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