MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.12 2020
1. Review
Last week's market closed up 589 points from the previous week at 23,619. The week's low was on Monday the 5th at 23,252. The week's high was on Friday the 9th at 23,725. Therefore, the close exceeded the weekly resistance level, making the sentiment bullish. The streak of bearishness was also countered. This is a phenomenon unique to the Mars retrograde period (the market’s “fake” move). Furthermore, this closing price surpassed the Weekly Trend Indicator Point (TIP) for the first time in three weeks. However, the underlying trend remains in a “neutral” state.
× ![]()