I cannot get as clean of lines in TV as I did in yahoo for this index.
I said yesterday it broke out, as it was just over recent downwards trend. (as you can see in the yahoo chart's screenshot, attached is my statement below)
This morning it touched the top of the longer term downwards trend.
We are retesting now a 25-year-old resistance level and it's a big opportunity to ride the next Japanese economy cycle.
I don't want to get into the macro-economy details, I am only focused on unbiased TA and for me, this can be a good buy opportunity if the resistance becomes a support, at least the RR looks awesome.
About the ETF, this IShares is the largest one...
Japanese market being forgotten for decades is now sitting at all-time highs with rising 200DMA. It's building a small consolidation above the old highs. A possible long entry for the long term, potentially for years, unless the breakout collapses.
ETF No rising wedges noted. NV is high.
Not a recommendation
Top 10 Holdings
Toyota Motor Corp3.97%
SoftBank Group Corp2.76%
Nintendo Co Ltd1.69%
Takeda Pharmaceutical Co Ltd1.67%
Mitsubishi UFJ Financial Group Inc1.44%
Daiichi Sankyo Co Ltd1.43%
Recruit Holdings Co Ltd1.37%
Daikin Industries Ltd1.33%
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Structure looks similar to all of the other corrective bounces, and they don't have FAANG stocks to pump, although I'm sure they watch Netflix.
Will buy puts tomorrow depending on what their market does overnight So far futures look weak.