While there is much room to go before we hit resistance, I am really not a huge fan of this overall lackluster performance. Keep in mind, the BoJ owns upwards of 80 percent of the entire Japanese ETF
market. 80 percent. Let that sink in. Also, export data is weak in an economy where exports make up 18 percent of GDP. If we gain five percent from today, nobody will be happier than me as my overall macro view will gladly change. I can sleep at night being wrong on five percent. But really though what could possibly lead to that given the last three months where some Asian markets like the Shanghai Composite
would gain 5 percent in a single day while Japan is asleep? Just not convinced. More fundy and technical analysis
on Asian markets as they move today here: https://anthonylaurence.wordpress.com/20...