John ; In looking at the Nikkei, from over here over lay it with
a yen chart..or look at WEJ, or some American funds that trade
Japan, keep in mind that from Last of August 14000 on it,
would now be worth 20% more in dollars, than it was then.
No index is worth a crap if you don't overlay it with any
meaningful the change in the value of the currency.
That's why I don't do E waves, it's just voodoo,
like people being able to see faces in the clouds,
all indexes lie 98% of the time what you see is not what you
get, until you make corrections. And they can lie both ways.
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Just like taking a star sight, you get the reading, but have
to make several corrections, dip, altitude and so on as not even
the Sun is were you see it except if it's exactly on your
zenith. When you see a sun set , that's not the Sun your looking
at, It's already long gone that's just a bent image.
All indexes are bent images, knowing how much is something else.
If you are comparing Japan back to Late Aug, add 20% to her
reading now.
If you want to compare The S&P to late AUG,
subtract about 15% from her reading now..if these things can
require 10, 15 , even 20% corrections in a mear 3 months,
how can one just look at any index chart and know were the REAL
peaks and valleys are..
Jim |
