Nikkei 225 on a new front?

I don't know if I have mentioned this before. I am actually a Chinese educated person. My preimary schools were all having Chinese as First Language with English in second or even third ( my Malaysia Chinese School ). I failed my English during mid year while in Secondary 1 and barely pass the subject every year till sec 4. My GCE "O" Level scored C6 for my English and the most embarassing thing was that my General Paper teacher came to me asking if I was a Chinese Ed because my Essay sucks.

As I look back to those time, I really find it interesting that I ended up having interest to writing articles in English. While I am quite satisfied with my work on the blogs, presentations and project proposals. I nevertheless continue to monitor my Eglish grammer all the time. If anyone reading my articles noted I am already quite fluent in the language, I am not.

If one reads in detail, he or she will note of the repetitive use of a few words such as "however", "for instance", "anyway", etc. I do make effort to avoid the use of such words but still due to my limitation, they exist in my writings.


Fig 1 Nikkei225 Daily Chart

It was quite a while ago when I wrote about Nikkei225. I was at that time more bullish on Nikkei225 than others like DJIA, STI or even HSI. After leaving it aloft for a while, it looks as if Nikkei has gone sideway. So the new Government did not manage to push Nikkei to a higher ground?

I am seeing 2 possible patterns on Nikkei right now. It is possible a wedge or a triangle, both resulting the Nikkei going the opposite direction. If a wedge Nikkei will head for around 8,506. A triangle (ascending) on the other hand will lead Nikkei UP to 12,746. The reason I have 2 different possibilities out of the same pattern is because of the overly gentle slope of the upper envelop. It is neither too steep nor absolutely flat, thus the uncertainty.

If I base on wave count, I am seeing a 3 waves down comprising of 3 minor waves to complete A, a simple 3 waves for B and now a 5 waves down with a 3 waves up for the C wave. I should therefore be expecting a 5 wave C down. Using the 1st of the C wave as a gauge, the 3rd of the C wave should at least yield a similar length. This makes a wedge break out a higher possibility.

For the time being, the indicators are also at the top and thus seems to be supporting the notion of a Wedge breakout downward. But no matter what we still need to wait for Nikkei to finish its present move, I assume it would be quite soon.