Tuesday, May 21, 2013

Nikki, near the end also?

This is the monthly chart of Japanese stock market.  You can see it is quickly approaching the long term resistance, which is very similar to our Nasdaq chart I posted down below.  I am not calling a top, since I am a trend follower.  But the chance to break out after such monster run is limited, I will apply same strategy as I trade the Nasdaq: tighten stops! Prepare for a lengthy consolidations.

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