S&P500, 10year US Notes, AUDJPY And EURJPY Update

Grega Horvat

Stocks are pushing higher, with Nikkei225 index breaking above 22000 as Asia followed the US session when S&P500 futures moved up to 2700. Currently it trades at 2710, but there is a resistance approaching at 2720/2750 area. Also recovery is very overlapping from the April low so it can be corrective.

S&P500, 1h

S&P500, 1h

10 Year US notes vs S&P500, 2h

10 Year US notes vs S&P500, 2h

If stocks are going to see limited upside, can be because of 10 year US note that we see it in wave (B) still, so new leg up can be coming which may send stocks lower and JPY higher. I love AUDJPY, and even EURJPY as both can be preparing for a drop.

EURJPY, 1h

EURJPY, 1h

AUDJPY, 1h

AUDJPY, 1h

Source: www.ew-forecast.com

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