Pimp My Trade

Greetings from Tokyo

Posted on April 3, 2009 by Adam

I’ve been travelling to Tokyo (which takes forever, if you’ve never done it before).

I didn’t get a chance to watch the market yesterday, but I hear we had a pretty nice rally. In terms of where the market goes from here, I’m continuing to watch the Fibonacci retracement bracket between the 666 low and the 875 high. Prices closed above the 78.6% retracement yesterday (about 830), and have pulled back to that level this morning.

If prices can hold here for at least a few hours without going lower, that could set the stage for another beastly rally heading into next week.

I’m going to be visiting the Tokyo Stock Exchange, which is the world’s second biggest after the NYSE. I’ll post about what it’s like when I see it for myself.

Now I’m off to bed to catch up on some sleep.