Japan’s Finance Minister Azumi said that the government will take decisive currency steps if needed and that speculative moves in the currency market are increasing. He and his policy makers can breath a small ‘sigh-of-relief’ after NFP, the market decided to sell the JPY outright! How long is this going to last? These specific market moves are providing better levels to own the currency. Markets have taken the Ministers comments in their stride. Intervention is a rising risk for USD/JPY shorts if the pair falls towards that psychological 75 benchmark.

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Markets are getting back into the swing of things; a bright start saw weak resistance taken out by solid breakout gaps. Volume was respectable enough and technicals for many indices are now net bullish.

Over the course of Christmas week the S&P saw a Golden Cross between the 20-d and 50-d MAs. Resistance at 1,260 has turned into support, leaving the next challenge the October reaction high at 1,292.

By John Thomas of the Wealth Insider Alliance

- CreditCards are potentially bearish for me (Visa, MasterCard + American Express),MasterCard chart posted allready as short candiate earlier but this entire business group itself is not very attempting for me either. With this group MasterCard is still as short candidate for me.
UK retail warnings potentially helped to make bearish action for credit cards on last session.
Tesco from UK gave warning and also smashed their other retail names down pretty heavily.
(I heard some rumours Buffett actually bought that Tesco drop).