This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
USDJPY is getting pounded today. FWIW.Monthly USDJPYThe last three times this happened, the market did a 22%, a 20% and an 11.8% correction. The 11.8 % was the beginning of the 2007-2009 Bear.Small Data SetThat is why I believe that we are going to do a 10-20% correction in equities, conservatively.Peace.
I do not usually chart the Nikkei, but did so today out of usdjpy interest. I think this is right. Bigger question (not shown) is whether this ends Wave 3 off the 2009 low or Wave 5. Hence, the green support at the would wave 4 targets (38.2 and 50 retraces because the wave 2 off the 2009 low was deep).Look at that bearish weekly candle right at the Wave 5 target!
FYI That looks like a bad print on the Nikkei Weekly candlestick as futures and other charts are not showing that.