Global stock markets have generated lots of headlines…and rightly so with the Nikkei crashing 20% in two weeks…but we’ve also had amazing moves in currencies, interest rates and precious metals…May 22 is looking more and more like an important Key Turn Date…when Market Psychology reverses across several markets…let’s have a look at the charts from my trading perspective:
The Nikkei rallied nearly 100% in 6 months in celebration of Abe’s bold programs to end two decades of deflation in Japan. But the Japanese stock market got WAY overbought and Market Psychology (MP) was primed for a “spark” to ignite a reversal…and we got that “spark” in spades on May 22 when Bernanke hinted that he might begin to “taper” the Q program.
……read more HERE