Japan Stock Market Meltdown, Screaming From the Rooftops
Stock-Markets / Japanese Stock Market Nov 26, 2011 - 11:33 AM GMTI 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 are crazy enough to try and trade in this environment, consider subscribing to my trading service. Otherwise, buy physical Gold, store it outside the banking system and enjoy the fireworks.
Adam Brochert
abrochert@yahoo.com
http://goldversuspaper.blogspot.com
BIO: Markets and cycles are my new hobby. I've seen the writing on the wall for the U.S. and the global economy and I am seeking financial salvation for myself (and anyone else who cares to listen) while Rome burns around us.
© 2011 Copyright Adam Brochert - All Rights Reserved
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