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Article: Wave counts say Nikkei to top soon. (Japan's Nikkei Stock Average)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- June 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Wave counts say Nikkei to top soon
Elliott wave analysis, coupled with Fibonacci time measurements, suggests a high probability that Japan's Nikkei Stock Average will top sometime during the middle of 1989.
The monthly continuation chart of the Nikkei Stock Average began a rapid acceleration in 1983, coincident with the Japanese yen bottoming against the U.S. dollar.
Using Elliott wave analysis and Fibonacci numerical progression, it is possible to arrive at some new ideas about where this index is traveling and, even more important, when it will get there.
Time is more important than price. Only after time has run out can the main trend ...