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Earl Adamy wrote:
> The Nikkei's second impulse wave has reached a 162% expansion of the first
> wave and closed above the July 98 pivot high (PH preceding the final
> decline) which provides initial confirmation that a rally of major
> significance is underway. This level should provide some important
> resistance. A correction to the 15600 area (holding above the Nov PH at
> 17000would not be unreasonable before a third impulse wave takes the Nikkei
> higher, perhaps to the 20,000. Asian investors should monitor Yen/Dollar for
> signs of serious deterioration, especially considering the rising interest
> rates in the US.
>
> Earl
Greetings Traders:
Here's the weekly Nikkei and Earl's price clusters at the 15475-15764. As Earl
mentioned, the Nikkei is due for a correction soon and by simply measurement of
the width of the bullflag. Long-term target of the Nikkei should reach the
20,000 levels. By the way, Earl, could you please further clarify your call on
the Yen/Dollar? Do you mean USD/YEN? Regards.
Have a good one
Jeff Harteam
Hong Kong
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