Updating this post on the EWJ, ETF for Japan, if buyers cannot adequately defend this $10.70 it is looking more and more like the recent consolidation has been a sloppy bearish rising wedge about to resolve sharply lower. Think about all the dip-buyers in Japan over the past month or so. They have not been handsomely rewarded or anything close to it. If they continue to not make much progress it could get quite ugly again if they start to hit the exits…
__________________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
and they have 20 years of bad dip buying memories to encourage the puke out
Good point.