Below is a chart of the EURO/Yen and the Dollar/Yen.
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What is interesting about this chart is the non-confirmations. The times that highs were confirmed by both currency pairs and the ES, resulted in further upside. But non-confirmations by both currencies (highlighted with the Green Bars) resulted in dramatic moves.
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Also, the USDJPY has given much earlier warnings that not everything is ok in wonderland on many occasions. Trend line breaks are very prescient.
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This is not a scientific analysis...just an anecdotal one in that we are currently experiencing a non-confirmation by both currencies of new highs in the SP500.
This is an ominous sign...are dramatic results to come?
click on the chart for a clearer view
