Charts I’m Watching: May 22, 2014

The problem with bubbles is you have to decide whether to look
like an idiot before they peak, or look like an idiot after they peak.

John Hussman

The Nikkei has been repeating a clear pattern for many months, now.  Each dip to the neckline of a large H&S Pattern has bounced back to a falling trend line — typically to whatever Fib level intersected with the TL.

2014-05-22-NKD daily

Monday, NKD bounced off the neckline again.  It got a great boost from USDJPY’s reversal off the SMA200.  And, today, it has retraced .886 of its last decline.

2014-05-22-NKD daily CU

Why does it matter?  continued for members


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