Sometimes you get broadsided by a headline. USDJPY tumbles lower after Mueller headline
Stocks lower too
expressed in the prior post, got broadsided by the headlines. The longs exited.

At the same time, stocks have moved lower as well. The Nasdaq moved down -30+ points. The S&P has moved down about -8 points at the lows. They are recovering a little off the lows but remain negative.
The Pavlovian reaction to these types of headlines spooks the market. It does not tend to keep the market down, but you never really know how long the impact will last and whether it starts to lead to an avalanche of bad/worse news going forward.
Maybe it is time to focus on some March Madness….Oklahoma vs Rhode Island go into overtime..
Leave a Reply
Want to join the discussion?Feel free to contribute!