Japan offers a different bet, when compared to US, Europe and Australia. The Nikkei has been in good correlation with the US market, but when the US market reached previous highs, Japanese market only retested a broken support, current resistance (15000 area) . This shows that Japan has become weaker than the US. Look at the bottom indicator, correlation...
I am favouring a short position at around the 15270 level, which i would expect it reach by then end of the week or early next week. The index hasn't yet responded to the consumption tax increase and is still enjoying the favourable manufacturing data out of the US yesterday.
A short scenario could take some time until April 15th - April 28th.
Little support till 12,000, if the Nikkei can't hold here.
Friends, Predictive analysis and forecasting defined three potential bearish targets, namely: 1 - TG-1 = 13755 - 21 MAR 2014, moderate probability 2 - TG-2 = 13412 - 21 MAR 2014, moderate probability and 3 - TG-Lo = 12968 - 221 MAR 2014, low probability This trader's directional bias is bearish, whereas the predictive analysis and forecasting system just...
Elliottwavemarkets.com
It looks like it is the end of this wonderfull bull market in Japan, started by the Abenomics. The fundamentalist that I closely watch see's Japan as the weakest market in G7, so this confirmes my bearish technical bias. Starting with the weekly, things are pretty simple. A nice class A bearish divergence has allready decreased the Nikkei a lot, but I believe...
Of course, this figure should be regarded as quite loose speculation in free time :-)
Resumption or Subsequent Bear Market.
For the moment, Nikkei is like a 5x leveraged bet over USDJPY - for no good reason. USDJPY is falling (i.e., Yen strengthening) despite (1) no interest-arbitrge argument; (2) Japan's trade position DETERIORATING; (3) US and Japanese monetary authorities undertaking broadly similar jawboning, but US Fed actually 'tapering'; (4) capital outflows (foreign net...
Multiple breaking of Trendlines and reducing Stochastics. Look to short on retracements on Tuesday or Wednesday
in a long term at nikkei we will have a double peak near at 15640 pts. But now in a short period we can get into 14920 pts. If u want play secure close some contract at 14700 :)