Editor's note: This is an excerpt from Hedgeye research earlier this morning. For more information on how to subscribe to the fastest-growing independent research firm in America click here.
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The Weimar Nikkei was +0.3% overnight, taking its centrally planned ramp to +22% since Oct 17th. Right now (into the FX event in Europe tomorrow) the Yen is signaling immediate-term TRADE oversold at $119.56 (and, not surprisingly, the Nikkei is signaling immediate-term TRADE overbought).
If there was a spot to play for a short-term reversal, we think this is it…
