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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Sat Dec 11, 2004 6:19 am Post subject: EWJ (Japan shares) |
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EWJ, an ETF, generally represents the Japanese stock market. The U.S. went through a severe "Creative-Destruction" process from 2000 to 2003. However, Europe and Japan inacted government policies to slow their Creative-Destruction processes. Consequently, Japan's economy and stock market struggled from 1990 to 2003. However, Japanese firms have finally become much more efficient. Also, Japanese exports to China are increasing rapidly. The appreciation of the Yen will slow exports to the U.S. Nonetheless, overall, Japan's economy is in a much stronger position and their stock market should continue to rise over the next few years. EWJ pulled-back to the uptrend line with additional support at the 50 and 200 day MAs. I believe, EWJ will rise to the previous high at 11.20 within a year and perhaps to 16 within a few years.
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