Tuesday, May 28, 2013

And the Yen / SPX Relationship & Quick Update

This one is more important than anyone realizes...

The Yen in Green since Friday and the SPX in red, if you know what the Yen, $USD and $USD/JPY (all are correlated) are going to do, OR if they diverge from the SPX, you have a pretty good idea of what the market is going to do.

To me it looks like stocks like AAPL, credit like HYG and GLD are filling a gap, I see some initial accumulation there so I'm guessing we'll see another run later, this will give those "BTD's" something to buy after so many seemingly missed out. 

If there are good set ups for additional calls today, I'll post them as these gap fills mature, however, I'd be sure you have the time to watch the screen and can be nimble, they may very well be closed hours later.

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