Monday, September 2, 2013

No war rally???

Japan has now broken out to the upside from the falling wedge formation I pointed out a few days ago.  The /NKD was up 3% and 400 points today. My thinking that I had better get in or get left behind was correct. I expect the Nikkei will probably end up being double that by the end of the week. The SPX is also set to open higher tomorrow. As of now, it should open up 1% or more.  I also think the SPX will have a great week with not many if any chances to get in. It would not surprise me if the next 5-10 trading days look very similar to 6/27/11 to 7/7/11. Not necessarily a move as high in percentage terms but a spike that does not offer any sell off to get in for those who would like to participate. Unfortunately, the market could do what it did after that time when the move higher terminates.

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