Thursday, May 9, 2013

Yen is starting a positive divergence intraday

I think it's been clearly shown, likely due to carry pairs, that the Yen as suspected over a month a ago, would have an increasingly important role in moving the markets.

Right now after a huge plunge (market supportive), it's putting in the start of a positive divergence while the SPX's more important charts look like this...
 3 min saw distribution in to that SPX run

So did the 5 min

And the 15.

With the Yen starting a positive divergence, well you saw what happened when the Yen broke lower, the SPX broke higher at the EXACT same moment.

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