Tuesday, August 27, 2013
The Nikkei's future is in the here and now...
I might have jumped the gun earlier shorting /NKD. There is still one last chance for the Nikkei to switch gears and have another huge rally. We should literally know within 2 days. The first chart is a one year chart of the Nikkei futures.
As you can see after the huge run up from last year the Nikkei has now formed a giant triangle pattern. These patterns usually resolve in the direction of the trend, which in this case, is up.