Market Talks

A lot of bull trends vs. JPY look exhausted. Today could be a big reversal – new week, strong Japanese data, short-term indicators reversing.

US macro data showed a slightly cooling economy, driven by the housing market slow-down. This was not surprising to the market.

USD is getting closer to key support. Also look at gold as the ultimate contrary USD indicator. Very big and important triangle since May is close to being resolved in either direction. We believe gold (like silver) will break higher, which would be USD negative.

US is Closed today, Tight range today.