Index: NIKKEI Dow 225
Short Term Trend
Last
indicator = SELL @ 18098 level on 20/8/1999.
Trend
still down - Since signal date by 2%.
Guides:
Black = Index showing BUY/SELL Arrows
Red
= 100 Day Moving Average
Blue
= 200 Day Moving Average
Magenta = Trend Channel
Observations
1. The sell indicator of 20/8/1999 is still in place.
2. The index is still within its up trend, which commenced in March '99 but needs to penetrate 17900 and ideally the 18500 level.
3. The index has consolidated and looks to be moving higher.
Long Term Trend
Observations
1. The downtrend signaled at 20/8/1999 continues although the consolidation appears to have been completed.
2. The 15000 - 21000 trading range continues.
Conclusion
1. The consolidation, after strong gains since the lows of 10/98 appear to be nearing completion.
2. Either await the e-mail alert or accumulate holdings of this market.
3. Resistance on the upside is likely at 21000.
