This week, instead of presenting John Noyce's FX charts "that matter next week" and providing our own interpretation of what one of the few credible technicians left out there is trying to imply, we will leave it up to him to do so. Below find the full slide pack of key FX charts together with other key observations on the S&P, as noted by Noyce, "The H&S top which completed last Thursday has a target of 1,245, which is very close to the converged 200-dma and interim low from March; 1,251-1,249", as well as his outlook on the EuroStoxx600 and 50, the IBEX, Spanish 10 year yields, the SHCOMP, and most importantly vol, which continues to be held back by resistance. Should the VIX break out over 20, watch out below.
The complete podcast.
And the full report: