Nikkei tech update

The Nikkei daily seems to be in the final stage of the right shoulder,
as we need to drop to 8000 to mark the SEQ 13 daily. The neckline around 9000 gives a target of 11000. A 38% retracement of the downleg (7500 points magnitude is around 10000) and the 50% retracement matches the head and shoulder pattern target.
The Yen is not finished with the deleveraging move but retreated today on the recession news. We follow the US markets closely today to see if they can turn around later today or latest by tomorrow for a little expiration rally.

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~ by behindthematrix on November 18, 2008.

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