NIK225 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom.
The primary trend remains bullish.
We look to buy dips.
We look to Buy at 35980 (stop at 35760)
Our profit targets will be 36530 and 36630...
NIK225 - 24h expiry - We look to Buy at 28250 (stop at 28075)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
Preferred trade is to buy on dips.
Our profit...
NIK225 - 24h expiry - We look to Sell at 28330 (stop at 28530)
We are trading at overbought extremes.
Prices spiked higher and stalled at resistance in early trade.
Further selling pressure led to a reversal in price action.
The current move lower is expected to continue.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further...
NIK225 - 24h expiry - We look to Buy at 28098 (stop at 27940)
Price action continued to range between key support & resistance (25535 - 28653) and we expect this to continue.
Short term bias is bullish.
Bespoke support is located at 28098.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 28469 and...
NIK225 - 24h expiry - We look to Sell at 28280 (stop at 28505)
Buying pressure from 27629 resulted in prices rejecting the dip.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower....
Idea for indices:
- As expected, Robinhood IPO was the trigger for global sell-off (other factors involved obviously, but I have been posting about everything macro related in other posts).
- China continuing to lead down.
- Look how the deflationary wave hits HSI > Nikkei > EU > US. Dome tops forming everywhere.
- ECB actually has greater QE than US, so EU index...
Idea for HSI & NI225:
- Delta variant proving to be a third wave globally.
- Supply chain issues, productivity decline, credit impulse having spillover on Asian indices now.
- SPX will get its wake-up call too.
I know this frequency well.
Speculate Jul-Aug will be very painful for global indices.
GLHF
- DPT
NI 225 looking to consolidated. Like IXI, we are more or less at the beginning of the downtrend. Some goals are provided in purple as well. RSI show dropping momentum.
None of the above is financial advice, please do your own research - your trades are your trades.
Chart said so.
The multi decades "bear market", "consolidation phase" may end in the next few years.
In terms of market cap, its already broke all time high long time ago. So, that's the natural progression of the financial market.
📌 The Nikkei would have freed some space to the downside with a technical break last week, but given that we have not pierced the support line and buyers are still well-placed we must be wary of a retest in the highs of the multi year top at 24,000 - the same level we have been tracking since 2018!!
The more interesting notion comes from the Global Equity...
Another chart showing how important it is to watch the GoNoGo Oscillator’s interaction with the zero line.
The Nikkei 225 Index has been in a “Go” trend as global stocks have rallied since the lows in march. The GoNoGo Trend is showing a little weakness as it is painting pale blue bars and the GoNoGo Oscillator is testing support at zero.
In the lower panel, I...
(See previous posts on extremely tight correlation between AUDJPY and SPX)
Post FOMC Follow Up:
Despite being the core focus of markets going in, nothing of substance out of the Fed / Powell regarding Yield Curve Control. Markets are now risk-off, with AUD leading the way down. Pre-positioning long AUDUSD on hopes of US YCC are unwinding, and dragging down...
Wide Aussie - JGB yield spreads in the 2000’s leading up to ‘08 crisis made Aussie dollar / JP yen the go-to levered carry trade used to fuel the US housing CDO bubble (with subsequent bubble burst → mass unwind which strengthened jpy to 70 vs USD).
Post crisis era saw the AUDJPY carry trade out back on. 2016- BOJ implements YCC, pinning 10y JGB yields at ~0%,...
Japan (EWJ) outperforms as Coronavirus cases are low (due to low testing), but country now on the verge of a massive virus outbreak, in line w/ EU & US.
Italy (EWI) lags DM, seen as new epicenter of Coronavirus. Country on lockdown, virus priced in (relative to Japan).
Italy also has sov debt & banking crisis overhang- but Japan also has massive sov debt &...
The Nikkei 225, or Japanese Stock Index had an 8% gain for the day, following on from its 7% gain from the previous day. Less than a week ago the Nikkei had just hit lows not seen since 2017, falling below 20,000 points. However in just 2 days it has made back its losses and is now rapidly on the rebound back to the 20,000 mark.
As well as this, other Asian...
Nikkei shows Elliott Wave bullish sequence from December 26, 2018 low and August 26, 2019 low. This suggests that buyers are in control and favors further upside in the Index. The pullback to 21079 ended wave ((2)) and the Index has resumed higher in wave ((3)). Internal subdivision of wave ((3)) takes the form of a 5 waves impulse Elliott Wave structure.
Wave...
