S&P Japan 500 correction almost completeThis is my amateur perspective after looking at the chart for 10 minutes and drawing colourful lines all over the place.
Summary: Go long - but not quite yet.
We are in the wave 4 of (5) correction that will continue for a drop of 7 - 11% before recovering to form sub-wave 5 of (5) up (I am picking a buy zone between 1460 and 1440). Short-term targets will become clearer once sub-wave 1 of the final move up is formed. A conservative target - once the small decline is over - is 20% up from todays closing price (1880+). Not being experienced at time analysis - so I would guess this would complete in around 8 to 10 months.
Happy tradng. Do your own research. I am not a professional and this is published so that I can 1. keep track of the market easily and 2. to further my own education. Let's see if I am on the mark or way off. This is 100% TA and no fundamental analysis has been undertaken.
P.S. Japan is awesome
