Recap Ninja moved lower as expected. What I did not expect, however, was the all out melt down. Got Y-3 before ninja can even bounce. Closed the week below Y-2 and midpoint.
Outlook Partially event driven, but this pullback is mostly expected due to the daily level overbought condition.
Ninja needs to absorb the drop hence consolidation likely with reduced range.
Lawrence's Comment
Recap
S&P followed Dow's lead broke out upside. Stopped going higher right below 100% absolute range expansion when Dow completed its run. Immediately collapsed back down to previous week close. ...
Lawrence's Comment
Recap
Short squeeze triggered after ninja refused to go below Y-0 at all. Then normal upside expansion to Y+2 before it stopped. Closed the week near week high and below ...
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USDJPY Apr 14 to Apr 18 Outlook
Lawrence’s Comment
Ninja moved lower as expected. What I did not expect, however, was the all out melt down. Got Y-3 before ninja can even bounce. Closed the week below Y-2 and midpoint.
Outlook
Partially event driven, but this pullback is mostly expected due to the daily level overbought condition.
Ninja needs to absorb the drop hence consolidation likely with reduced range.
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