Japanese down 5% for the day, another turbulence coming
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Japanese down 5% for the day, another turbulence coming
Yes very interesting next few days...The pacific area is looking rather grim....NZX50 as you say Mac....The All Ords retesting it 4900 major double top trough support its technicals are breaking down the MA50 is a goneburger...The Nikkei 225 closed today on its conjunture point.....
A can't understand the European market at opening, its totally ignored the worlds 4th biggest economy share market melt down today. The down under share markets didn't reflect much either, the NZX50 down 0.4% Aords down 0.8%...
Hmmmm...Its all too much for me ...so I've used the wimp strategy..and cashed out
http://i458.photobucket.com/albums/q...2530052013.png
Conjuncture point has broken since my chart was post..this is a major break and could become a potential problem....Small bounce up to form the right shoulder then maybe a further Manhattan type fall..eh?
By the way Moosie ..nice 30 year chart.... lower highs and lower lows......try drawing a primary down trend line starting from the 1991 right shoulder.....could be a secular sucker rally ..eh....or maybe ( you'll need hope here) its due for a primary break back to a long range bull market cycle...eh.
u still in? Another problem raised from south east Asian area. Phillipine (inflation 5%) , Thai, indonesia (5.47%), Singapore, index crashed the same trend with Japan. Foreign investments all outflow back to Japan and US.
Phillipine and Indoesia would be the first to lift up interest rate.
Ready to short some tech stocks in NZX once DJI break through MA60
Today's Chart ... 11.15am
from my post #856 27th May 2013
.......First step is watch the MA50 and the 4400 area and see where that leads us to...
MA50 broken ...NZX50 has entered into the 4400 area
http://bigcharts.marketwatch.com/kaa...045&mocktick=1
I think the butterfly flapped it's wings in Japan first......
Looks like an up day for the market NZ50 4455. Back above 4400 Hoop ?