After an impressive 8.3% rally, the Nikkei 225 is hitting the daily long-term downtrend line.Watch price action here. Be ready to short JPN 225 and USDJPY .
I have not opened any positions yet.
Updated the chart
Just before the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16540.
About 1 hour and 50 minutes after the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16645. Stop loss is now 16640. The JPN225 was around 16577 then. JPN225 has hit and been turned back down three times by heavy resistance at 16600 (near the downtrend line).
I closed the 2 futures at 16355. Net profit was (16540 - 16355)/5 = +185 ticks. I expect JPN225 will fall much further but I need rest. Japan's debt to GDP is approaching 250%. The Asian stock market TV shows say a massive round of quantitative easing is due later this month possibly including helicopter money.