And just as Tech Trader expected, $SPY and $QQQ rally on Yellen speaking; taking gains of over half a percent each. https://www.techtrader.ai/wall/?date=1472189595&post=9716
$NUGT gonna make a nice short soon. Sorry just too many stranded players and too much technical damage for now
I still don't understand how much longer the Yen can strengthen in the face of export pressure, investment slowdown and now the world biggest fund -- GPIF -- suffering the largest quarterly loss. Back in 2014, the GPIF divested from bonds and into stocks in an effort the bridge the gap between obligations and performance on the back of additional monetary easing. The positive Yen/gold correlation will need to end (initially), but there are still inflows into gold. Clearly a nod of disproval by world investors of fiscal and monetary policies. As the Yen goes, so do global equities. If the Yen strengthens, what else can Japan do to promote growth? --------------------------------------------------------------- The Government Pension Investment Fund, the world’s largest pension fund, suffered investment losses of 5.2 trillion yen ($51.8 billion) in the fiscal first quarter as its returns fell on the back of tumbles in global equities. GPIF said Britain’s surprise vote to leave the European Union in June was the catalyst for the latest paper losses, triggering a surge in the yen against the dollar and slide in world stock markets. http://fortune.com/2016/08/26/gpif-pension-fund-investment-loss/
Again these markets are about patience and a ton of long buyers are in a world of hurt...well those that chased. Here is last weeks newsletter stating you should not trade based on Fear of Missing Out (FOMO) but wait for a proper setup. If you want to be added to the newsletter distribution list please email me at [email protected] Manage risk...... https://drive.google.com/file/d/0B4o0o67kDdT8ZWt4ZTEtOEFGdUE/view?usp=sharing
good call once again @MaximusAnalysis that 2186 resistance that you've been talking about in your nightly vids has proven to be one tough nut to crack these past few weeks ... proved to be the case at the yellen spike highs again today as well
