Thursday, May 15, 2014

(OT) Head and Shoulders Topping Pattern in Japan's Nikkei Weekly Chart?

Uh oh... Is about the only "success" story of so-called "Abenomics", Nikkei Stock Index, in danger of collapsing?

If this "head and shoulders" topping pattern (10 months in the making) plays out, the target seems somewhere below 11,500. There is not much of a support until 10,200 or so.

I'm sure Bank of Japan's Governor Haruhiko "wages are rising even as they are falling for 22 months" Kuroda will do whatever it takes to prop up the market.

Or in this new normal world, the topping pattern is actually bullish, signaling the central bank's intervention and sending the stock market even higher.


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