Tuesday 13 August 2013

Japan


Recent price action on Nikkei increases the probability that the current correction is developing as a sideways move, most probably a triangle.

This points to a final move higher, most probably to 17000 which is also very close to the 2007 top (18200)

 A move below 10000 would invalidate the whole analysis but even a weekly close below 11300 would make me very nervous.