Here’s Why Nikkei’s Bounce Higher Could Prove the Shot Opportunity of the Year
2024.08.07 11:41
Perhaps you’ve read by now that the Bank of Japan has been utterly humiliated (which stings extra-hard in the Japanese save-face-at-all-costs mindset) by the global market which took place thanks to their minuscule 0.15% interest rate bump.
They have solemnly pledged NEVER to raise rates again as long as markets are not “stable” which means………….never. Japan is a financial basket case and will never, ever recover. As my mother used to say, you can put that in the Bible.
Prompted by the Japanese finance ministers, the NKD has been blasting thousands of points higher the past couple of days, which delights me, since it’s going to be an amazing setup for U.S. equities. I’ve been watching that red line.
Taking a few big footsteps backward, we can see in the bigger chart why this is so important.
Does this look like a bullish chart to you? Does it look like a buying opportunity? Am I going to ask any more rhetorical questions? No, I’m not. I’ll simply say it is hilarious beyond belief.
This is all I’ve got to say about the entire situation.
