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Stock Market Yen Carry Trade is Unravelling

Stock-Markets / Stock Markets 2014 Dec 31, 2014 - 11:53 AM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX has completed a small impulse down and has made a 29.3% correction so far. It may go as far as 2086.54 (50%) or to 2088.20 (61.8% retracement) before it is over. However, the institutional investors may be coming in and if they start selling, SPX may be on its way to Intermediate-term support at 2053.01 or even the 50-day Moving Average at 2028.51 by tomorrow. The odds favor adding an additional layer of short positions at this time.


USD/JPY pulled back from a new low at 118.86, but it appears that the retracement may be over. The Yen carry trade is starting to unwind.

While the Hi-Lo has given mixed signals, at best, the VIX has broken above both levels mentioned earlier today. It has given the SPX sell signal, even if its pulls back. The Hi-Lo signal may be confirmed tomorrow, since it had the breakdown earlier today.

Respectfully,

Tony

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