“Want to solve a problem? … ask Biden, AND THEN DO THE OPPOSITE!”
Preezy “Train Wreck” … whatever this guy touches turns to shit ALMOST
IMMEDIATELY … and it’s only gonna get worse … I warned all of you what would
happen if this Douchebag got elected what it would mean for your wealth &
standard of living, and in a little less than 16 months, he’s done a “bang up job” of
ruining the U.S. … “if you were trying to ruin the U.S., literally run it into the
ground and destroy the middle class, what would you do different than what this
Idiot has done so far? … nothing, you’d be right on schedule"! … $10 gas and $10
loaves of bread on it’s way to you … if you somehow voted for this Shitweasel,
you deserve all of this and more!
Looking at markets today, Asia moves, Europe dies, and the U.S. wakes up
… both proxy crosses, EURJPY & GBPJPY tracking the “Spoos”, and while not
tick-for-tick, correlating very well to the “risk on / risk off” [RORO] environment
we’re in, and likely to be in for a good long while … tonight sees Japan inflation
numbers, and “IF” they come in “HOT”, “Peter Pan Kuroda’s” got a decision to
make … let interest rates rise on the 10 YR JGB [currently capped at 0.25% by the
BOJ through yield curve control], or let USDJPY get obliterated … any change in
their uber dovish policy, and USDJPY will explode downward quickly
… especially since the world is again caught long USDJPY … and Kuroda has left
it up to Spicoli to save Japan … and they all pray at the altar of “please let
inflation go down” so the U.S. Treasury 10 YR yield goes lower and the YEN can
rally over time … if inflation doesn’t come down and U.S. rates go higher and
Japan fails, the ramifications will be immense, especially in the YEN crosses.
Support for USDJPY at 127.500 & 127.000, and if those give way, look the Hell out
on the downside as people bail out of long YEN & long YEN crosses … yes, this
could get quite ugly … today we got down to right above 127, and they couldn’t
“seal the deal” … tonight’s Japan inflation numbers, though, most likely will give
some “rock & roll” to price … for the most part today’s trading action was
disappointing … 1) double reversal on the daily chart, 2) smallish range from just
after the NYSE open & tickling important chart points of support & resistance that
if violated could lead to very quick moves, and 3) a clear lack of direction &
liquidity in any of these so called “deep & important markets” … fact is, nobody
has a clue WTF is going on and it shows!
I really thought today was going to be much better than it was … the fact we got
ZILCH follow through to the downside in GBPJPY hung over this market all day
long … and right along with it the inability of the “Spoos” to hold a rally,
especially in the morning hours is disturbing … the only rallies that matter in the
“Spoos” are the ones that come in the mid afternoon of New York or later into the
close … trapping shorts is about the only thing that’s gonna sustain buying and
buoy GBPJPY.
Only one algorithm buy signal in GBPJPY I was willing to take today
… TURNKEY PAMM UP SLIGHTLY … i LITERALLY HATE DOUBLE REVERSAL
DAYS, simply cuz 1) they usually go nowhere after the second reversal, 2) they
happen rarely and counting on this to happen is not a very high probability event,
and 3) it literally invites the “Flying Wedge of Death” [FWD] into your trading, and
almost always that leads to losses & disappointment cuz there’s no follow
through to anything … won’t go up or down and is captive to shit like the
“Spoos”, which if you haven’t noticed is a train wreck of the FED’s making … there
are plenty of days ahead that are gonna be a lot better than this pile of shit today!
Overall though I’m quite pleased with how the trading algorithm models price
behavior in GBPJPY & EURJPY… I’m a little miffed at myself cuz I passed on
some obvious buy signals prior to the NYSE open in Cable / Yen … going forward,
I’ll start GBPJPY trading about 6 AM EST and carry through to about 2 or 2:30 PM
EST … this should give us optimum coverage of price moves … if the “Spoos” are
trending hard into the late afternoon, I may extend to a little later … not usually
though, just sayin’ … and I’ll take a look at the start of the Asian session and see if
anything is happening … if not, it’s “sleepytime”.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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