Search results

If the recent history is any guide, SPX will at least moves up another few weeks after the first turning bar on the weekly chart. But we have yet to see how good the guide is this time.

I also suspect we are at wave-4 and wave-5 may follow in the near term. Let's see how it goes.

Looks like the big bank hunted massive amount of sell stops and pushed the price to a new all-time low before they "intervene" :cool: Will the intervention work this time? Let's wait and see.

I just tried several times to post a 2011-03-16 U/J price chart to show the stop triggering. But the picture failed to post. Why is that? :mad:

Looks like the big bank hunted massive amount of sell stops and pushed the price to a new all-time low before they "intervene" :cool:

Many traders believed U/J would rally following the great disaster in Japan, citing a list of fundamental reasons. But the market movement seemed to disagree in the first day following the earthquake. And today U/J continued to plunge to new low... Lessons learned.

Investors prefer Yen and the Swiss franc than the dollar as refuge in the chaos situation these days (Don’t forget USDCHF also tumbles to all time low). :cool:

Strange thing is that USD should have been surging against JPY on the event of great earthquake and nuclear disaster in Japan, but price just moved to the opposite. I guess this has trapped a lot of traders.

Unfortunately price hit your 79.40 stop just now. That's why I don't want to jump in right away.

U/J down trend is very strong right now. On the other hand, it's a double bottom on the monthly chart, and it might have some kind of technical bounce... 50/50 chance for the short-term direction. Anyhow, I'm looking to see which side to jump in myself :D

Now U/J touched ALL Time LOW at around 79.80 this afternoon! I won't be surprised even it continues to fall significantly lower :eek:

Let's hope the Japanese can do something to contain the disaster from growing bigger. Perhaps we may also watch the markets and get some clue.

I just googled the info for the area of Chernobyl Ukraine and learned that it still remains empty and uninhabitable 25 years later today. The Japanese seem to face a similar situation for the disaster.

How does this Nuclear power plant accident compare to the Atomic bombings of Hiroshima and Nagasaki in 1945? Which had more damage to the environment?

Japanese stock market crashed, Wall street follows :eek:

It seems everyone believe USDJPY will go up. Is this a good time to take a contrarian approach? :D

Thanks Mu. I'll watch that. The monthly chart also seems to meet a channel resistance lately. And AUDUSD's general trend follows S&P stock index quite closely in the recent years. Once the S&P falls AUDUSD may follow.

Thanks Mu. Based on your wave counts, do you think AUDUSD weekly/monthly chart is near the end of the rally, or significant up move is still likely?

It's called Modernization :D

Hi Mu, How do you count the AUDUSD monthly or weekly chart? It seems to me it has arrived to 5th wave, and due for a correction or fall perhaps within 2 months :confused: