EuroMotif

Nikkei near term update: JPN225 small dip then more upside?

FX:JPN225   Nikkei 225 Index
Quick update on Nikkei bounce.
Expecting a wave 4 dip to continue before a final leg up.
After the 5 waves are complete, we should see a larger correction.
Lets see how it plays out.

Above is an update to my last plan for market recovery (at least temporary)
Oct 31
Comment: So here we are, at the short term bounce zone I am hoping, lets see
Nov 01
Comment: Hmm, almost at target but the path there has been quite different than I had expected
Nov 01
Comment: It is a bit concerning that wave 4 reached a little below wave 1 The breach was minor, but a breach nonetheless. Idea bounce would have been in a zone above the wave 1 as I originally drew. So that leaves us with this recent spike and what it might lead to. If it gets mostly retraced, then we may have topped for now.
Nov 01
Comment: For this spike, the 4.236 extension will be the important line to watch
Nov 02
Comment: Trump news just came out, looks to be reducing trade war rhetoric against China, so all stock markets are getting a boost, and the Nikkei went right past resistance. I expect it will go quite a bit higher unless the news is downplayed by Trump later.
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