AUDJPY and bitcoin not confirming SPX rally
Makes me think it's just year-end flows into stocks ... and global risk appetite is not particularly strong. Strong global risk appetite would be taking cross/JPY and crypto higher. It's not.
Look for a quick correction in the SPX off overbought levels once the inflows subside after the first day or two of January (first two business days of January tend to be very strong for SPX due to new year inflows and 401k flow).
Look for levels to scale into short SPX as bitcoin and AUDJPY show risk appetite is pretty meh despite the S&P 500 EOY ripper. This is just for your radar right now as ideal entry window will be mid next week (January 4/5 approx).
Look for a quick correction in the SPX off overbought levels once the inflows subside after the first day or two of January (first two business days of January tend to be very strong for SPX due to new year inflows and 401k flow).
Look for levels to scale into short SPX as bitcoin and AUDJPY show risk appetite is pretty meh despite the S&P 500 EOY ripper. This is just for your radar right now as ideal entry window will be mid next week (January 4/5 approx).