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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (6171)	5/23/2002 12:12:19 AM
From: macavity	Read Replies (1) \| Respond to of 33421

Nikkei. Just looking at the charts. Wow are these bullish Monthly. stockcharts.com[g,a]maclyyay[pc8!c21!c55][vc60][ile8,21,13!lp13,3,3!lp55,8,8] Just had a positive cross in PPO-Histogram. I reckon that it has a good chance to hit its 55mth EMA.c. 15,000 PPO-Hist is positive and rising - this is very good - definitely looks like a buy the dips in weekly. Serious lows seem to be put in just under every 4 years looking at the 55period stochastic here, and it looks like we made one. Good support c.11,000 level. Weekly stockcharts.com[g,a]waclyyay[pc8!c21!c55][vc60][iLe8,21,13!Lp13,3,3!Lp55,8,8] Momentum positive but falling. Trend positive. Good support 21p EMA in 11250 region to 11000 region. Only thing more bullish are Gold and $HMO shares - EWJ is the Ishare that trades to it (broken out in daily + weekly) but you take on the Yen risk. There is a USD-denominated future that trades on one of the Chicago exchanges. There's always a bull market somewhere I guess! -macavity

To: macavity who wrote (6171)	5/25/2002 9:52:25 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Mac, great point about Japan now being a market of sectors. The past year we've seen how most asset managers have been under weighting Japan. That process has reversed and I think the key driver of the reversal has been when the Markets realized that the US Dollar had morphed into a bear market pattern. If you pick a Japanese sector that has been forced to compete on the world stage over the past 5-10 years then you probably have as good a company as anywhere else in the world. They are all moving production to Asia and China especially. I think that probably is a fair statement. Obviously it's hard to quantify. Tell us more about the actual tempo of Japanese citizen Bullion buying in the Ginza District and other such areas. John