This is the make-or-break moment
USD/JPY broke a huge support level today. Technically, that leaves very little support until 110.00, or lower.
The S&P 500 is down 45 points today in the second day of heavy selling. The low is 8 points from the August bottom and 16 points from the January spike low.
It's time to start strategizing for what to do if/when the dam breaks.
A range breakout is the simplest technical strategy and chart but it would imply another 18% decline down to 1500.
It's important to note that the Nasdaq took out the August low earlier today. European markets are also a mess, with Spain's IBEX down 32% from the April 2015 high.
I'm not entirely sure which way the market is going to go here but I'm 100% positive that the people with a plan are the ones who are going to make money.
