On 8/20 I posted this update ….The Euro/Yen has been a quality indicator for the 500 index. The main emphasis to the chart below…. The Euro/Yen was testing a prior low at (2) and if it should break, stocks prices should fall further!
This chart is an update to the Euro/Yen pre stock market opening. Notice that the Euro/Yen is breaking support at (1)!
This currency breakdown is suggesting the following….Lower stock and Commodity prices are on the road ahead! For those looking to score on defense, this currency breakdown should contribute to the bottom line.