The market got hit with heavy selling in early trading after a high ranking Chinese official said that China might adjust its foreign currency reserves (read: sell dollars). This caused the dollar to fall, and helped contribute to the rally in commodities.The Yen spiked to its highest levels since 8/16. You may recall that was the date that the market bottomed in the summer. So this is a significant level. You know that the Yen has been my chief "tell" for the short-term direction of the market. So if you are bullish then you want to see the Y[...]
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[Source: The Money Blogs]
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