Monday, February 6, 2017

Going Down With The Clown

The Idiocracy is attracted to con men like a moth to a flame. They don't trust anyone who can be trusted. Trump's true believers are putting their money where their moron is...

Hanging tight. By the noose:
JPY net speculative short positions (red)
The USDJPY is at a critical support level, and yet Yen shorts are betting the dollar goes higher. Usually yen shorts (dollar longs) are quick to cover. This time, they're sitting on major losses. Dollar bulls are in major denialation mode...

Time For U.S. Dollar Bulls To Surrender? No Way
"The US dollar has closed lower for 6 weeks in a row now, which is testing the patience of bulls. This past week the price action cracked the top rail of the horizontal trading range which is a negative, but no confirmation yet the trend has reversed down." 



Here is the dollar index (against all currencies) with USDJPY (red):

"There is no confirmation yet that the trend has turned down."

Exact other way around, the USDJPY did not confirm the Trump rally overthrow, nor did Relative strength (lower pane)...

It will be hard for the dollar to rise when yields are imploding lower.

Five year Treasury yield with Goldman Sachs (red) finishing its Dodd-Frank repeal corruption rally...


Hot money payback. Is a bitch:

I will guess -60%, with risk to the downside...

The rig count is a leading indicator of U.S. production. From Friday:

Oil net speculative longs

The German Dax indicates why there've been four opening gaps lower in the past six U.S. trading sessions:

When volume breaks out, it's time for vertical mode...

Yes, again...