13 July 2009

Nikkei : More Confirmation

  • Last 9050
  • Not that I am in need of more convincing about the return of Risk Aversion (and the decline of Risk Taking). But Nikkei chart is by far the most convincing in this respect.
  • Tide : Has always been down since peak in 2007. Most recent attempt to break downtrend line failed at around 10000.
  • Wave : Re-entry below 9325 = double bottom failure
  • Ripple : Impluse candles and gaps mostly on the down days
  • Tide Wave Ripple = all aligned

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