Monday, February 17, 2014

Yen-watching season

All eyes on USDJPY now to see if it will reject from underneath the important 102 level.  This will decide if we have two more weeks (at least) of bear-winter, or if the "1929 fractal" will emerge with a vengeance.

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.

1 comment:

Richard Head said...

Art Berman: Reflections on a Decade of Shale Gas

Art Berman, Labyrinth Consulting Services, Houston, talks to HGS about his research into the economics of drilling and producing unconventional reservoirs in the United States. He discusses the Eagle Ford, Haynesville, Barnett and other shale gas plays. Berman presents graphs that show shale gas uneconomic to drill and produce at current gas prices. He says the public is mislead by energy company statements that gas reserves are large and that companies are making a profit from shale gas.

It's not looking good anywhere.

Where's the Crew Served Weapons?