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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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In Need of Ancient Japanese Secret

chessNwine Mon Apr 1, 2013 3:46pm EST 4 Comments

In addition to prior leaders like the small caps and financials (since November 2012), the Japan market also was instrumental in foreshadowing the rally we have seen heretofore.

And just like the warning shots being fired with small caps and financials, Japan longs need a quick recovery now after this nasty gap lower today on the EWJ, country ETF.

Here, again, equity bulls need not see Japan recover and sprint to new highs. But if the tide is not stemmed quickly in the form of stabilization, it is likely a sign of something more serious looming.

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EWJ

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4 comments

  1. Raul3
    Raul3
    April 1, 2013 at 4:13 pm

    Now I need to watch that movie again, HA.

    That clip cuts off at such a huge moment!

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  2. purdy
    purdy
    April 1, 2013 at 5:37 pm

    I had CNBC running in the background most of the day and I heard no mention of Japan’s start-of-the-quarter adjustment. I thought it was newsworthy and I’m glad to see you did too..

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