Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Japan Ripe for Advance

Japan Ripe for Advance
By Mike Paulenoff, www.MPTrader.com

A 13% appreciation of the Yen (vs US$) since June, a relief rally in oil (down) approaching quickly, and a bullish intermediate-term price pattern indicate strongly to me that "Japan Inc" and the Japan iShares ETF (AMEX: EWJ) are ripe for the emergence of a powerful advance. The enclosed daily chart of the EWJ shows the upside pivot off of last week's low at 13.18, which my work indicates inaugurated a new upleg that should propel the EWJ to the top of the 18-month pattern above 14.70. Only a plunge that takes out 13.18 wrecks my current outlook.

  • 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!