Spot the odd one out…US equities stay strong, no matter what.
It’s fascinating to see, that the USDJPY, Oil and European stocks work like fuel to the upside, but to the downside the correlation is completely gone. We all know markets are manipulated, so that should not be a surprise anymore. Or is it algo’s programmed to buy on bullish moves and turned off if USDJPY, Oil or any other asset does not trend the direction “they need”.
So this is the question I have: will the S&P500 show one more pop and then catch up to the other assets or will the USDJPY, Oil and European stocks be (used as) the new fuel to break S&P500 2420 and test 2440 resistance area?
Or check this post about the S&P500 vs VIX as I believe a similar move is about to happen…and check this article why I think Oil is headed down for the next couple of weeks.
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