Last Comment On Japan (for now)
I promise that for now, this is the last time I will comment on the Japanese stock market. I only feel the need to scream from the rooftops on this one because I am not seeing anyone else commenting on it, and I believe it is HUGELY important. The third (?) largest economy in the world is demonstrating conditions ripe for a stock market meltdown.
Here is my Elliott wave count on the Nikkei Japanese stock market ($NIKK), with all its bearish implications. Following is a 37.5 month weekly candlestick chart thru Friday's close with my thoughts:
We're not just below the recent October fall lows, we're looking at a crash-type scenario in the Japanese stock market. How this happens in a globally interconnected market without a strong move to the downside in Europe and the USA is beyond me. My subscribers and I have been short emerging markets and remain so for now. Soon, we will be looking to buy into the precious metals sector for a bull trade, but for now it is "batten down the hatches" time.
If you're interested in trying to trade these dangerous markets, consider my low cost subscription service. If not, my advice is to buy physical Gold and sleep soundly.
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