How can you expect this to go on that long when - by my calculations - at the rate of current descent, we hit 0 by November 4th?
Americans are an impatient lot and want to "have it out and be done with it" when it comes to pain. I'd rather have a katharsis than chronic pain for years.
The USD/JPY turning around or at least stabilizing, will indicate that the yen carry trade has finished most of its unwinding. That might be an important bottom indicator in this case.
It certainly looks that way. Either that or the BoJ is intervening. I would have expected AUD/JPY to be beaten like a $2 whore this evening, but it's not even below it's previous lows yet.
The fact that a mod felt it was necessary to create this thread and post it is proof that this is a bottom. Futures will rebound on a 700 Billion infusion by the PPT buying stock futures.
You forget that his Lowness Bush is speaking tomorrow morning before the market open. His appearance is always good for a laugh and a 5% short. If he attempts to actually say something intelligent, make that another 10% pullback by noon.