TA looks like a buy as, arguable, we are in the 5th of 5 or already in some corrective up-trend. Buy here or a little lower for a target of about $27.
Year: 2009
SLF and MFC March 30
I am assuming, as I did before (see SLF), that 5 down was complete and now at the very least we should have a correction back to the top of the triangle, normally in an a-b-c structure. The a was complete with the big move up and now for the last day or two we have been working on the b. As indicated, on SLF at about $19 or so, it should be bought for the c part. Here are the charts.
It is hard to tell if we are down deep enough, it is simple a matter of weighing the chances of missing the boat against the potential of $5-$10 up. On the next down day I would buy.
NIKKEI March 29
As with the other indexes I am not at all confident that this one has completed a first 5-waves down. As it was recommended at 7000 I would sell now just waiting to wsee what happens next. Looking at the RSI and MACD this may in any case be close to a top. for the time being. This , of course also applies to the EWJ.
Housing March29
The Chart of the Day is just one of those excellent “informationâ€inputs that you can get.
Probable another 10-15% down will do the trick, for the time being. In the mean time enjoy the comments on men, even if you are one.