Japan - EWJ - Acting Well

The Japanese equity market continues to act well (so does the Yen)... Let's review the EWJ... As we speak the EWJ is attempting to sustain its up-gap opening ABOVE a 9-week resistance line (13.90), which if successful should trigger a test of the prior rally peak at 14.01 (2/27) in what increasingly looks like the upside breakout from an intermediate-term rest-consolidation pattern. On Wednesday we first identified the likely completion of the high-level consolidation, and the likelihood of a thrust towards 15.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his Macro Trading Charts. Or try his QQQ Trading Charts or his E-mini S&P 500 Trading Diary.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!