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Japanese iShares Over the Edge? The perfect time to be a bear…
For the better part of ’06 and ‘07 it appeared that the Japan iShares (EWJ:NYSE) was building momentum for another push to the upside. Fortunately for the technically savvy investment crowd, all the signs had become apparently clear that the upside potential wasn’t meant to be.
Back in September of ’06 you can see the first signs of zapped momentum on the multi-year monthly chart above. The MACD indicator had a negative divergence. But it wasn’t until November of ’07 when the DMI trending indicator joined in on the bearish sentiment. Even the Bollinger Bands began to split wide open. Get…
8Feb2008 | S. Oakes | Comments Off | Continued
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