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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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Monday, August 01, 2011

Japan's NKD fails to hold 10,000 yet again...

Japan's Nikkei 225 Futures Index, NKD, has fallen 300 points so far from today's high of 10,050 after failing for a fourth time since May to hold above the important 10,000 level as can be seen on the Daily chart below. I've written numerous posts on this index since it broke below this level after the earthquake in March. I'm wondering if it will test its intraday spike down to 9465 that was made on July 18 or at least to a rising trendline level of 9600ish. At the moment it is sitting on its 50sma (red) and a near-term level of support.