Sunday, January 10, 2010

Chart of the Week (and decade)

Mitsubishi UFJ Financial Group, Inc. (MTU)

I first found the idea of Japanese banks as a good bet for 2010 from the blog THE OIL TRADERS BLOG. I then delved into some charts and found the technicals to be quite impressive. I decided to post this one as the "Chart of the Week or(more like decade) which shows a massive possible trend change. It all makes sense in the respect that the Japanese Banking Crisis happened in the late 80's early 90's. Our banks dominated the last 20 years and arguably longer but the tides may have shifted and put Japan's financing in the lead going forward - we'll see.

Here is a chart of Mitsubishi UFJ Financial Group, Inc. MTU which shows a massive Long Term trend shift in the form of a Head and Shoulders bottom.

Other tickers he mentions are MFG, NMR.

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