The USDJPY model says that currency pair is about to get hit again here today so I’d be expecting to see it attack the low into about 10:15ish. 

As for stocks…the currency weakness in the US dollar shook them up last night but the dollar bounce, after the opening bell this morning, today took them right back up again. 

It looks as if the stock market is joined at the hip with the dollar today and especially with this currency “pair” of the dollar against the Yen. 

My hunch is that we’re about to see the dollar break down to a new low on the year today and with that move, the stock market will resume it’s crash leg. 

We’re just coming into the first nasty zone of weakness here for stocks (into 9:45-10:15am PST) so they should roll back over and start the downside acceleration. 

The overnight model has a bearish “reset” at its low this morning just prior to the opening bell so that model is assuring me that we’re still on the correct side with our expectation of a breakdown as opposed to a breakout (which is what all these bulls are positioned for) 

 Sell signals triggering all over the place so once the roll over resumes this one should be similar to that day when we saw the mkt. drop 400 points in 12 minutes.  I’m not saying that will happen right off this high this morning…but at some point between today and 12-16, we should see a move that is even more intense than the down 400 in 12 minutes. 

We should see the 839 SPX magnet today so that would represent over a 60 pt SPX drop and that would get their attention.

Full report coming soon