As they rarely do at the time, this 3C signal makes no sense; with the VERY dovish Japanese PM, Abe and the board of governors he nominated for the BOJ (Japanese Central Bank) leadership, to think they will do anything other than try to destroy the Japanese currency is almost impossible to believe.
Why coud we possibly have a signal like this? I didn't know at the time, but saw this happen with the $USD and found out several months later and after the move in the dollar (which we traded as we took the signal) the reason; it happened with oil, it happened with the change of management at RIMM and tons of other places, it makes no sense, but it's here.
It's no coincidence that the market is dead flat on an options expiration day, but the same could be said for the Japanese Yen futures and the market being dead flat.
Here they are on a 1 min chart with a positive divergence, that's short term not good for the market, but the market and futures will be closed soon, still someone is positioning for something involving the Yen higher near term, which is bearish for the market.
The 5 min chart shows a huge positive divergence in the Yen, again, it makes no sense, but there it is.
Even a 4 hour chart has a huge leading positive divergence, someone is betting big on the end of the trend in the Yen and it moving higher, killing a number of FX carry trades, forcing liquidations in stocks.
Remember to compare, compare, compare.
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