I’ll make this quick, since the ol’ laptop is almost out of juice anyway. I’ve been watching with fascination what’s been going on with the yen tonight. My stomach was in knots as Kuroda’s time approached, and I groaned to watch the USD/JPY roar higher and drag the ES along with it, ripping it around 22 points higher. Even the NQ, which had been deeply red thanks to Amazon (O:AMZN) exploded into the green. I was bracing myself for a rough Friday.
Well, who knows what I’ll be looking at when I wake up Friday morning, but for now, I’m a little less worried than before.
As I type this (and it hasn’t even been an hour since the news of NEGATIVE interest rates in Japan broke), almost the entire ES rally is gone, and the Nikkei went from the 18,000s to the 16,000s within the span of minutes. This is the kind of mayhem that Central Banker government bureaucrats can inflict on the “market.”
I’m not resting easy yet, but there’s hope. See you in the morning.