At first glance, I was excited that the Nikkei futures were forming a 3 hump pattern similar to the one formed in February 2020 before the big dump.
then, I started noticing difference in volume / flow (CMF). Back then, the bearish divergence was quite clear, and now it's not all that clear. In fact, that sudden CMF increase looks a bit like bullish divergence...
Aiming to retest on the resistance level, made tp and sl clear for yall, short term i mean don't hold for too long and i didn't use multiple tps since yall capital differ from on to another.
Short Term Elliott Wave view suggests the rally from December 21, 2020 low in Nikkei Futures is unfolding as a 5 waves impulse Elliott Wave structure. Up from December 21 low, wave ((i)) ended at 27715 and pullback in wave ((ii)) ended at 26955. Index then rallied to 27615 to end wave (i) and pullback in wave (ii) ended at 27410. Wave (iii) ended at 28300, dips to...
The story of MT Fuji was of the Japanese stock market boom of the late 1980's into the early 90's. Now we're seeing levels retrace through the technical elements along with fundamentals looking historically similar. Technicals in sight here for the incoming Thurs Tokyo lock down could give way to an optimal long term entry.
Short term outlook: Bearish
Long term...
The Nikkei 225 continues to show relative strength and has one of the cleanest absolute trends of the global indices I track. It's already breaking out ahead of the US and European indices, which suggests to me we could see them follow it higher in the next day or two. If you're trading the equity indices --- keep your eye on the Nikkei 225 for clues.
Looking at the chart, it appears NIKKEI dumped as soon as MFI got overbought.
Something watch out for next time, there's a reason why I plot both RSI and MFI
Japan and Korea both overbought and appear to have rolled over. Could this be the end of the vaccine pump?
We'll find out later this week, but I would count on Asia to pump futures for the rest of teh week.
Why is the Nikkei at all time high (ATH), lol. The Japanese economy can;t be doing that good, plus they;ve had negative interst rates for awhile now. Overbought on the daily...
Ridiculous, lol.
Short term Elliott Wave view on Nikkei (NKD) suggests the Index ended cycle from October 9 peak in wave (2) at 22889. Subdivision of wave (2) unfolded as a zigzag. Down from October 9 peak, wave A ended at 23380 and wave B ended at 23705. Wave C of (2) ended at 22889 which can be seen in the 45 minutes chart below. Index has since turned higher in wave (3)....
Since 2018 NKD1! has been posting diminishing returns within their market. Though, these are new times none of us have witness when it comes to new economic and monetary policy. Do we reject this trend and print yet another lower high? Or does the Japanese market breakout? What is interesting is that during the US market correction that occurred at the start of...
Sellers have been very strong on the drive down and now breaking lower again with a 3 press low is beginning to show signs of slowing. Each consecutive low is less distance than before and rounding off and it just so happens to be occurring at the channel lows. Buyers are under pressure here and this is a last ditch for them. A break below the low would be a...
Elliott Wave View of Nikkei (NKD_F) suggests the Index ended the cycle from April 2 low as wave ((3)) at 23630 high. Currently, Index is doing a pullback in wave ((4)) to correct against that cycle. The correction is proposed to be unfolding as a double three Elliott Wave Structure. Down from wave ((3)) high, wave A ended at 22960 low. The bounce in wave B ended...
