I believe Currencies are the heavyweights that push around other assets…. Get the Currencies correct and many things fall in place! Sunday night I ran a post entitled “Euro/Yen signaling higher equity prices.” The chart below is a update to the action of the last couple of days.
On a short-basis, this is a very critical pivot point for the majority of asset classes…
Euro/Yen holds support here and starts pushing higher from this falling wedge, stocks(broad indexs) and commodities (copper and metals) move higher!
What the Euro/Yen does here will have much to say if support holds or fails, highlighted in this “groundhog” post.