MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.19 2020
1. Review
Last week the market closed up 209 points from the previous week at 23,410. The weekly high was 23,667 on Tuesday the 13th. The weekly low was 23,382 on Friday the 16th. Therefore, although the low entered the weekly support area, it did not fall below it and, since the close exited this area, it became neutral. However, it can be said to be on the strong side. Furthermore, this closing price exceeded the Weekly Trend Indicator Point (TIP) for the second consecutive week. Nevertheless, the underlying trend remains “neutral.”
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