After the Bank of Japan's policy announcement on October 31st to increase the amount of money they're pouring into the markets (including U.S. markets), the Nikkei Futures Index soared and ended the week just above major resistance (around 16,666) and is back into the 2007/08 froth, as shown on the Weekly chart of the NKD below.
Failure to hold this level (which is, no doubt, an important psychological level to surpass), could see this index slip back to 15,000, 13,700, or even 12,600 (as I discussed in my post of October 12th) before they step in and prop it up, once more. Daily volumes may hold the key to direction in this regard...former buying from November of 2013 was thin and resulted in "dead-cat-bounces."
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. March 30 ~ U.S. markets closed for Good Friday Holiday
* Fri. April 6 @ 8:30 am ET ~ Employment Data
* Wed. April 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. April 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. April 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events