Nikkei 225 Looking Bearish
The Nikkei 225 more
commonly called the Nikkei, is a stock market index for the Tokyo Stock
Exchange (TSE). Like the DOW in the US, the Nikkei is a price-weighted index, measures
the performance of 225 large, publicly-owned companies in Japan from a wide
array of industry sectors.
Nikkei is known best for being in the longest bear market in modern history. On Dec. 29, 1989, the Nikkei reached an all-time intraday high of 38,957. Three decades later, the Nikkei's value is still 47% below that mark.
And I don't anticipate the Nikkei coming out of the bear market anytime soon because within the last 12 months, the Nikkei has formed a double top. A double top is a chart pattern, characterized by two consecutive peaks in price, that signals a potential bearish reversal of an uptrend.
In addition, price is bumping up against a major support / resistance line.
Thus, the chart suggests the Nikkei will fall to the monthly demand at 14000 over within the next couple of years.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
Nice to read about the nikkei stuff of a thing.
Japan is undergoing such a generational economic issue that thoughts of ever reaching new highs are all but gone. Given how dependent they have become on world economies, it seems that they will not be able to determine their own fate which is sad.
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