While waiting on the larger macro (Powell talking up the hawk, still tilting at inflation), potentially including a future end to the bear market rally in stocks and/or an end to the correction in precious metals, why not return to one of the original (and lower priority) intents of NFTRH+? That would be stock setups.
Japan has been a stellar performer as we’ve been tracking for many weeks now and TM is one that lifted hard off the lows and shot up quicker than I cared to chase it. Now the pullback is happening. Here is a simple daily chart showing a preferred buy area at 148 (+/-). I just put TM back on watch this morning and if the Japan view is intact at such time as TM may drop that far, I’ll consider buying it.
Risks: There are gaps lower, although in potentially changing the trend to ‘up’ they may be breakaway gaps. Also, this view is pending the global rally and/or the Japan rally view.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
” stellar performer as we’ve been tracking for many weeks now ” — would that not have been a reason to buy a big chunk of the Japan ETF many weeks ago, like April? And the same for the SPX revival since October?
Yes, absolutely. I don’t understand you point. I advised bullish, but I don’t tell anyone what to do. Personally, I let the Japan play mostly get away from me while concentrating on US Goldilocks stuff and being miserly on the Nikkei.
Apologies, I forgot to add the words “in the trade log” in the 2nd part of the comment.