Market Talk – June 14, 2016

by Martin Armstrong
Armstrong Economics

It was all about the Nikkei and the JPY again today trading to 105.50 as stocks lost another 1%. We are on daily bearish reversals here so we may well see a short-term bounce from here. As you would expect it was exporters that suffered with Nissan and Honda a couple of names being talked lower. The BOJ starts its two-day meeting Wednesday and the market really is looking for guidance. Oil is not helping stocks anywhere as it continues to drift having hit $51+. China was one of the few bright spots today closing higher up 0.3%. HOWEVER, news just released announces that China will NOT be included in the MSCI EM Index – Currently see China300 futures trading around 1.6% lower.

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