Currencies May Add Some Market Support Short Term

As you know, this weekend's analysis that started with observation over a month ago and culminated with strong observations Friday, basically pointed to Currencies being one of the major culprits in market weakness and today that has held true.

Right now there $USD is starting to lose some upside momentum which is market supportive and I believe the Yen will also move lower (it has already lost momentum) which is also market supportive, but these are near term moves along the lines of "Stage 2", this weekend's analysis of the currencies dragging the market lower as a primary trend still stand as valid in my view now as when I posted them this weekend.

I'll bring you the updated charts next.

I don't think there's anything you need to do unless it's position maintenance, taking some profits on shorts or inversely correlated longs, but as far as entering new positions, I think tomorrow we'll be looking at that, today I believe is too early unless you want to take the chance of trying to trade a dead cat bounce, I don't think that's trading, I think that is gambling.

I will bring you the charts, but I wanted you to know what was going on now in the $USD and Yen