Stock Market Analysis – 08-13-2008
August 13, 2008 at 8:57 pm · Filed Under Broader Market
The day was rocky again, diving early on, bouncing back, then plunging back down to close the session out. Oil and gold had a little rebound, but nothing trend changing. I’m still in a waiting mode until the market can show one way or the other. Till then…
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I appreciate your charts, I visit your site daily.
The chart of the USD/JPY, shows a complete breakdown.
The USD/JPY is a “failed investment”, so now the US Dollar will now be turning lower. The Dollar Rally in stocks that came from the yen carry traders selling oil, and buying the bank stocks and the consumer stocks is now over.
The yen carry traders will be selling to take profit, and all stock market indexes, such as the S&P, will be falling.