NIKK Tokyo Nikkei Weekly Chart 5-Year High Sideways Symmetrical Triangle Breakout

The Nikkei chart updates lag so today's print at 14180, a big +3% jump, is shown by the red dot, a new 5-year high. The blue triangle has a vertical side that is 6000 points, thus, the breakout at 9K targets 15K.  The Nikkei is only 800 points from that target. The bullish move is obscene, running from 8500 to 14200, +67%, in only seven months. For 2013, the Nikkei is up over 30%, a standout global gainer. It is amazing what destroying your currency can do to help your stock market; the BOJ learned this from the Fed. The circle shows a congestion zone at 14K-15K and resistance at the 14800-15000 triangle target.

The indicators are negatively diverged wanting to see a pull back now but with all the momo, and a BOJ determined to weaken the yen (higher dollar/yen), a move through 13K-15K is anticipated moving forward. The weaker yen also causes U.S. equities to print new all-time highs. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.