🇯🇵NKY +6.7% in 5 days, breaking new 3 ½ decade high
🇺🇸SPX & NDX having a weak start to ‘24 after sudden, huge mid-Dec’22 rally
Why?
Consensus:
🇯🇵 ← “weak JPY”
🇺🇸 ← “Powell Dec FOMC-triggered rally went too far, & now reversing”
…really, that’s it?
Ok-👇some charts🤔...🧵