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Dollar and Yen Collapse Signals Market Sell

March 13, 2014 | About:

The USD and JPY collapsed today, taking the markets with it. As you all know, the markets are pegged to this chart and today is no different. After a solid gap higher, the markets fell as the dollar and yen fell. So there has been no stop in the selling at this point as the indexes are down over half of one-percent.

This break in the dollar/yen is a big negative for the markets. While it is only an initial minor sell-off, should the dollar/yen continue to collapse, the markets will not be able to curtail their selling. Watch for follow through tomorrow. If we see it, expect a top in the market and a large pullback.

Gareth Soloway

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