Tuesday, March 31, 2015
EWJ has dropped to approximately the Bollinger mean twice before in this uptrend, so let's see if it can rebound a third time.
Shaoul's been saying that the recent strong performance of the Nikkei has occurred with little to no US participation, and therefore this is the sort of time when you want to buy Japanese equities.
Also, Japanese economic data has been getting less and less moribund.
So let's see what happens here.
Oh btw, CNBC this morning had some talking head warning about poor earnings when companies start to report. (Oh look, they're even mentioning it on their website.) So we'll have to see if that inspires a S&P market dump going into the first couple weeks of April.
Personally, I think most of the dumping has already happened these past two months, so I'm agnostic until the chart tells me to get out. Which... might be today, judging by the failure to keep the Bollinger mean and EMA(10) and the continued nonconfirming weakness in the $TRAN chart. We'll see.