USDJPY Positions for Massive Break Out, S&P 500 Staged Again for Breakdown

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Though we have seen the market’s focus blur around the Evergrande troubles in China and even the more recent monetary policy headlines thin out, the markets have still been put under serious pressure for a risk reversal heading into Wednesday trade. It has been a while since we have seen politicking around the US debt ceiling take the reins on global sentiment, but that was certainly the case this past session. My preferred one-look measure for risk appetite – the S&P 500 – moved into a serious technical position this past session. The index put in for its worst single-day slide (-2.0 percent) in over four … (full story)