The USD/JPY Currency Chart Tells You More Than You Think
US Dollar Selloff Continues, S&P 500 Stalls Near May Top
THE TAKEAWAY: The US Dollar dropped for a fifth consecutive day, hitting the lowest levels in close to 2 months, while the S&P 500 is stalling near the May swing top.
Markets quiet, but wait until fall and Congress’ budget showdown
Did Retail Investors Just Fold?
After BTFATH in June, and being rotated into by the professionals in early July, it would appear that the apparent ‘greater fools’ are heading for the exits now. As we noted here, the ‘retail’ buyer of what the institutions were selling suggested things were getting a little too exuberant but as TD Ameritrade’s Investor Movement Index shows that the retail investor is now a net seller of equities. Their proprietary index is now at its lowest level for 2013 and the last few days in stocks suggest the institutional sellers have run out of willing ‘at any cost’ great rotating equity buying ‘greater-fools’ (despite the mainstream media’s call for moar BTFATH). Between Monday’s record-breaking ‘quote spam’ and the JPY carry unwind occurring, we await the next call for Mr. Bernanke (or Kuroda) to get back to work.
Source: TD Ameritrade
Not Even More Fake Chinese Data Can Push Futures Higher
Japan’s Debt Exceeds 1 Quadrillion Yen as Abe Mulls Tax Rise
The country’s outstanding public debt including borrowings reached a record 1,008.6 trillion yen ($10.46 trillion) as of June 30, up 1.7 percent from three months earlier, the finance ministry said in Tokyo today. Larger than the economies of Germany, France and the U.K. combined, the amount includes 830.5 trillion yen in government bonds.
“Ballooning public debt underlines the need for Abe to push for a sales-tax increase,” said Long Hanhua Wang, an economist at Royal Bank of Scotland Group Plc in Tokyo. “This is a minimum policy requirement for his government.”
Read more at http://investmentwatchblog.com/japan-enters-the-keynesian-twilight-zone-as-total-debt-crosses-one-quadrillion-yen/#vwkWuXCW5UDVqrKO.99
Obama’s Housing Program: A Windfall for Wall Street
Why Marc ‘Wolf’ Faber still thinks a 1987-style crash is coming
Of course, the 1987-crash theme is not a new one for Faber. He made similar predictions in May and February. So how many times is Faber going to cry wolf before we see this happen? Well, ZeroHedge says he may be on to something, if you look at a Hindenburg cluster that’s been happening over the last four days. This indicator warns when more than 2.2% of traded issues are hitting new highs, while another 2.2% or more are making new lows. (Read more on the Hindenburg Omen.)