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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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...If the dots don't connect, gather more dots until they do...




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Sunday, August 07, 2011

Japan's Nikkei 225 Futures Index (NKD) at March 2009 Levels

Japan's Nikkei 225 Futures Index (NKD) opened down tonight at 9150 and is currently trading at 9125...a level that it was trading at by the end of March 2009 as shown on the Weekly chart below. A solid break and hold below this level, and below the pivot point of the March 14, 2011 weekly candle at 9092, would have me concerned about any short-term value in this futures index...I wouldn't be surprised to see the YM, ES, NQ & TF follow a further move downward (from tonight's open and lows so far) if that were to happen on the NKD.