• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 695 days Americans Still Quitting Jobs At Record Pace
  • 697 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 700 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 711 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 715 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 715 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

A Look at the Nikkei

In October 2012 I showed subscribers the relative chart of the Nikkei 225 versus the MSCI world index and explained how the breakout over a declining trendline, which was showing on the chart at that time, suggested great times ahead for the Japanese stock market. Since then the Nikkei has advanced 76%.

Looking at a monthly chart of the Nikkei we see it has advanced past the minimum expected move to 14,500 forecast by the bullish flag formation and has reached the descending trendline from the high in June, 1996 as well as the 76.4% retracement of the 2007 decline.

While a further move to the May high near 16,000 wouldn't surprise me, the bull market of the last year may be finished and prudence calls for moving to the sidelines until NKX manages to exceed and hold these levels.


Larger Image

 


These weekly Commentaries are a snapshot in time. Opinions change and are updated continuously at the website. Try a trial subscription ("sneak-peek") at Seattle Technical Advisors.

 

Back to homepage

Leave a comment

Leave a comment