45.15 is an important closing level today.

Fxi has a 2 year double top working from the 46.60 level

coupled with an outside reversal week if it closes under 45.15.

Once again this is a price negative pattern that can have ramifications

across a wide array of assets.

A close under 44.40 next week will lead to more equity weakness both here

and in emerging markets. Risk Off!

Long term investors that are still in should consider taking your money off the table.

If we start closing above 46.60 in the FXI you’ll be in a well defined bull environment for

lots of assets with defined risk. You can always get back in after the dust settles next week.

Neutral or flat the market is also a position. Money is good.