【September 28】 Nikkei Stock Average falls for the sixth day in a row, closes near the lows after breaking above 67,000 — has the rally paused, or a pullback forming

On September 28, the Nikkei average stock price closed at a drop of486 yen 58 sen, at 65,877.62from the previous business day.

The decline rate was 0.73%.

The opening price was 66,505.94.

The high was 67,034.74.

The low was 65,877.62.

And,

Close = Low.

In other words today,

the close at the low

was.

In the morning, buying led by gains in U.S. semiconductor stocks.

At one point,

67,034

was reached.

However, it later stalled.

From the high to the close,

about 1,157 yen fell

.

To summarize today’s market in one sentence,

“It was strong in the morning, but sold off clearly at the high, ending with selling pressure.”

This is the most important part when considering tomorrow.

First, reviewing the previous trend

The Nikkei average had, through the previous week’s end,

risen for five consecutive trading days

.

On September 24, it rose to as high as 66,249.

The upward move continued to test higher levels,

and today finally,

surpassed 67,000

.

In other words,

in the short term, it had risen quite rapidly.

Therefore today was more a state where

“investors who want to lock in profits”

were more likely to increase.

In fact,

after breaking through 67,000, demand did not continue,

and it fell more than 1,000 points from there.

This is not merely a slight adjustment.

Profit-taking was quite strong in the 67,000 level

to be noted.

The key point today is “the close at the low”

Today’s Nikkei average is down 486 yen.

However, I weigh not the magnitude of the decline, but the way it ended.

The closing behavior is more important.