Algokid

UPDATE : Nikkei vs. Yen

CME:NK1!   NIKKEI 225 FUTURES
80 0 1
I'm republishing this chart from 9 months ago. looking at the Nikkei futures now ( 10:42 E.S.T), they are down 2.25 % . The Nikkei briefly broke above its second resistance , but has retrace down since. We can observe the same for the Yen futures ( support held) . What does this mean exactly ? well the correlation between the SP             500 and Nikkei ( using 100 day data) is currently at 92.71 % , highly correlated. So will this affect the market in the morning ? I have no idea ( I dont have a crystal ball), but it would be a good idea to keep an eye on the Nikkei from time to time.

Cheers

Algo

www.passivestor.com

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