What is Still in My Market Memory?

And does it matter?

My wife asks me to go to the supermarket and wants me to write down what she needs me to grab. I say, “No, I got this. Just tell me what you need”. The drive isn’t far, maybe ten minutes and lo and behold, I get to the market and I can’t remember a thing she wanted. She is going to be so pissed. Perhaps I should just grab a bunch of things and hope she doesn’t remember either? That is the question right now in the markets, period!

The Yen definitely started all of this. Recall the chart I showed a week or so ago (I can’t remember!) which showed the Yen weakness peaked at the same time the QQQ did, to the day. The first set of Yen moves strengthening were mostly ignored by the markets as just getting back its overshoot. In between, we had some earnings disappointments that the market wasn’t prepared.