For risk on and risk off, I’m now looking to “optimism on” and “optimism off”. And yes, while I am joking a little, I’m a little serious about that too. The greenback and yen weakness is a reflection of optimism as is the (current) 270 point rally in the Dow. The question to ask is whether these moves are “game changers”? Game changers happen with a shift in price and psychology. I don’t see these moves as game changers however I will discuss in a separate update where I see a bottom being put in on the Dow. THAT could be a game changer… In the meanwhile the EUR/USD and GBP/USD are both bouncing higher (correcting) ... (full story)