Asia & South East Asia: Birds of the same feather?

Here's two 5-year charts, poised at very interesting junctures:

Dow Jones Asian Titans Index

Dow Jones South East Asia Index

At first glance, these two birds of similar feathers, seemed to have flocked together under trendline resistance. A closer examination reveals the superior performance of S E Asia in terms of retracement. Do note that Japan makes up a large percentage(50%) of Asian Titans.

There are possibilities at this stage. A break above the topline would indicate a retest of all time highs in the medium-term. A consolidation below the line, over the next few months, might setup huge Inverse Head & Shoulders patterns over the longer time frame. I'll be keeping an eye on these charts for sure.

Stay tuned!

EW enthusiasts might wanna comment on the form of the decline & rise in both these charts (corrective or impulsive?). What does your Elliott eye see?

Useful Links

DJ Asian Titans Index