Update on Nikkei 225: Jun 30, 2015

Only one chart worth showing at this juncture.  The daily chart shows NKD breaking the rising red channel from October 2014 just yesterday.

Recall that was the month when Bullard (on the 15th) and Kuroda (on the 31st) teamed up to push stocks through heavy resistance. In NKD’s case, it was able to slice through the .886 Fib (a completed Bat Pattern) and go on to make new highs.

2015-07-01 NKD daily 0600

Updated July 1, 2015

Could NKD bounce back into the red channel as though nothing ever happened?  Sure.  In a centrally planned “market” anything is possible.  But, today’s backtest of the broken channel bottom should at least give one pause.


Comments are closed.