Yoku Yatta Abe san! Japan is Top performer on the month again as I expected!

What a month again: Japan led global markets, S&P500 confirmed the break, DAX is still testing the historical highs, Gold collapsed against all odds...But Two warnings signs for a coming reversal are to note: 1) Japan jumped -too?- quickly to my first target ...remember: what goes up fast tends to fall fast(er).... 2) I was concerned that a disappointing Q1 reporting would trigger a correction...Well reporting were not great but Markets stubbornly ignored them...Eventually, fundamental catches up and market will go where it should...

=> Japan is still the best Long to have, then far after Europe, & US...I also keep an eye on gold which despite the correction has further downside... Not yet a buy...


Nikkei Monthly Chart:

Nikkei continues its rally and is now at the last Fibonacci  retracement 14,000, that's 30% since my long recommendation in Feb...It is overbought with still upward momemtum...Next target is the 17-18000 area.
Keep the long








S&P500 Quarterly chart:

 Last month, S&P broke an historical high, the recommendation was to buy for the agressive investors, and for the other to wait for a month... Well we have it...Buy Signal for the less aggressive punters...
The index is overbought with upward momemtum as well.... Targets are 1750 then 1850






Eurostoxx Monthly Chart:

Heading slowly towards 3000...Same as above...Overbought, up momemtum....












CRB Commodity index Monthly:

Commodities are falling slowly, and still has some (10%) downside...At the same time the USD index is moving upward slowly...














Conclusion: Long Japan for a further 30% upside.. Cautious long in Europe, and US