Tuesday, June 4, 2013

Nikkei Index hitting long term resistance

Historical view of the Japanese stock market. The Nikkei Index is hitting a multi decade declining resistance line. In addition the index is very overbought.

This is most likely a great opportunity to short this stock market.

Monthly long term chart of the Japanese Nikkei Index. Click in the above chart for larger picture.

Nikkei 225, more commonly called the Nikkei, the Nikkei index or the Nikkei Stock Average, is a stock market index for the Tokyo Stock Exchange.

The above is an extract from our monthly Elliott Wave Technician Investment Newsletter published 30th of May 2013. You can subscribe to our newsletter at web site elliottwavetechnician.com.

Geir Solem

Elliott Wave Technician
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