Nikkei Update: charting the retrace before ATH
Updated
Just posting a quick 15min chart to see how the fibs and EW play out during expected retrace.
I am still expecting a rather shallow wave 4 to then start wave 5, but lets see
This is an update to my larger timeframe Idea posted here:
I am still expecting a rather shallow wave 4 to then start wave 5, but lets see
This is an update to my larger timeframe Idea posted here:
Note
Wow, sudden drop from political news out of Japan.Apparently Abe won and will remain Prime Minister (now the longest in Japan's history).'
I suppose the spike was funds re-balancing their portfolios.
I am expecting that ''more business as usual'' sentiment should allow continued uptrend.
But I am mostly a technician, so I just appreciate the precise ping on first spike down.
I think it will go lower though, so my bounce zone may have been way too optimistic, lets see.
Note
Excellent! The bounce looks to be holding Note
As anticipated in my follow up plan we hit hard resistance (and I assume some news out of Japan) 
After hitting resistance, it plunked right down into a support zone
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