After the ADP Report, the USDJPY sold off, signaling Risk Off mode. Stocks barely moved…
As I mentioned before, on the way up the USDJPY works as a Central Bank policy, pushing prices higher.
On the way down, the correlation seems to be gone….like if they hold it up artificially….nah, can’t be, right?
I wonder what will happen when they turn back on the machines again…Will stocks catch up or will the USDJPY reverse losses and push the S&P500 even higher?
I wish I knew…what I do know is that it is hard to be a bear on stocks up till now, but something’s brewing guys….also check S&P500 vs VIX and Cycle Dates S&P500.
Enjoy your weekend!
S&P500 vs USDJPY 15m Chart
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