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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

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TGIF

TGIF

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Friday, December 12, 2014

Bubblicious!

We'll see whether my summary outlined in my post of January 2nd, 2014 manifests by the end of this year or not...
"This year may be the Year-of-the-Bubble for the Nikkei, 
the Yen, and the Nasdaq...time will tell 
whether this happens, and we'll see the extent of any damage."

From the following 3-Year Daily charts of the Nikkei, the Yen, and the Nasdaq 100, their existing long-term trends are not being confirmed by their respective indicators...suggesting a possible reversal in the cards. If we do get a reversal, the question is whether these are in bubble yet...if so, how far will they reverse?

Near-term major support for the Nikkei sits at 15,000 to 16,000; near-term major resistance for the Yen sits at 95 to 100; and near-term major support for the Nasdaq sits at 3,800 to 4,000. I'd keep a close eye on the Nikkei (which is up 103.5% during this 3-year period, as shown on the percentage gained/lost graph below) for leadership in either direction.