There’s plenty of risk sitting on the sidelines in this market and despite the Dow and USD/JPY’s recent weakness, there’s more of neutral market sentiment at work here.
Much of the market outlook I have regarding the Dow and the yen is tied together. I am waiting to see if the Dow will be sold as it rallies into the 15,800 to 16,000. This could reveal whether I 1) Take a USD/JPY short sell and 2) Get a fill on my CAD/JPY short sell.
Another “forextra” market is the U.S. Dollar Index and the sideways chop that this market has been in. The recent rejection from the 81.20 to 81.50 area lower through the 81.00 major psychological level has allowed the EUR/USD to bounce from the 1.35 level.
In today’s video, I walk you through how intramarket analysis gives me an edge. Along with that, I walk through many of the trend shifts we’re seeing in the market and some of the chaos that is leaving behind.
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