Sunday, 7 March 2010
Japan
As an ex_Japanese fund manager I would love to be bullish on Japan and am aware of the bullish arguments on valuation,earnings growth etc Nevertheless I fear that the market is about to fail at the upper channel and the 50% retracement level on the chart for a 3rd time and break down below the moving averages.If I am wrong and we break out of the channel it should be a strong long-term buy signal.
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