Thursday, August 29, 2013

A Long-Term View of the Japanese ETF

The are two points I wanted to make about this chart:

1.) We see the Abenomics rally that started in 4Q12 and extended to 2Q13.  Prices rallied about 44%.

2.) Since the rally prices have been consolidating in a symmetrical triangle pattern.  This is to be expected after such a strong move as traders take profits and assess the effectiveness of the new programs.