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    Volatility Reports 3/11/2024 Nikkei Dow

    March 10, 2024

March 10, 2024

Volatility Reports 3/11/2024 Nikkei Dow

A secular bull market for the Nikkei has been a long time coming

Excitement is well deserved by the new highs posted in the Nikkei averages. These new highs are a sign that Japan after decades is likely in a very long-term – secular – bull market. However, on a cyclical basis, a long term and intermediate term basis the Nikkei is putting in an important high.

Price and time fit the outlook that a final price high will be in place by the end of April 2024 or sooner (see post in group March 5, 2024.)
ProShares Ultra MSCI Japan seeks daily investment results (EZJ) two times (2x) the daily performance of the MSCI Japan Index®.

We saw it coming from the October 2023 trading range low (See October “Volatility Reports.) The most recent trend,  breakout, based on EWT can be labeled as post (after) triangle, which is a terminal move, not the beginning of a new trend of larger degree or proportion.

The Nikkei futures have a little more work to do finishing off an all time high pivot but the 2x ETF shown here can be seen as a completed up trend. Thus I am expecting the new runs higher by @NK not to be confirmed by the ETFs. As such a bearish divergence would give confidence that a tradable high is in place.

Text me on WhatsApp if you want real-time updates when they happen, 760-459-4681, actions speak louder and CT is not transaction hungry.

The first chart here shows the last four times TEM nailed a COT as panic buying or selling.

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