Will the second Trump market rally resume? First, focus on the upcoming meeting with Trump’s to-be president.

In the domestic market, we started with a sharp rise at the opening of the big market session,

but after the U.S. employment data for the weekend, it couldn’t quite reach the 20,000 yen level and closed lower.


Since the last blog post“Does the U.S. employment data even matter?”


Meanwhile, the Dow seemed to hover as if it had touched the 20,000 dollar mark

and closed without breaking through; if it keeps going like this, one would like to see it push above the big round number,

with participants returning to the market in full swing from the start of next week, so during the year-end and New Year holiday period

there may be some adjustments in an overextended market.

Furthermore, on the 11th, after the presidential election, there will be a press conference by President-elect Trump, who has not publicly responded until now

and will likely speak freely

— from Twitter, I think this time there will be a barrage of questions from various media outlets as well.

The true Trump era, in our view, is yet to come, and that era is gradually

narrowing in.



We will continue to monitor a market focused on the United States

and will be sufficiently cautious about sudden moves in U.S. stocks,

while in the domestic market, on the upside we are watching for the Nikkei Stock Average at 20,000 yen and the USD/JPY at 120 yen

to determine whether the second Trump-like market will start.


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by Kawa Serigui