102 as OH resistance now:
Larger picture, USDJPY is near the edge of a channel that has run since the January 1 "major" Bradley turn.
|USDJPY channel since 1/1 Bradley turn|
If we do break down, I would speculate (as is the task of this blog) that it would get very nasty into the Spring.
|SPX 02-16 teh OMG super-bearish|
If the Jaws of Death model describes a reverse symmetrical triangle -- an epic megaphone -- then, according to Bulkowski, we should expect its E wave to be a 3, as was the 2007-2008 bear market. Maybe something like this.
|SPX 02-16 3Y|
If the rain holds off, I'm going to sneak out tonight to take some night pix of some empty office buildings downtown. Please keep an eye on USDJPY in the meantime.