MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.16 2020
1. Review
Last week's market closed 1,060 points higher than the previous week at 25,385. The week's low was 24,541 on Monday the 9th. The week's high was 25,587 on Thursday the 12th. The closing price for the week surpassed the weekly upside resistance line, marking a second consecutive week of bullishness. Furthermore, this closing price not only exceeded the Weekly Timing Indicator Point (TIP) for 4 of the 5 weeks, but also continued to push to a new year-to-date high for the week. Therefore, the underlying trend has been upgraded from “near an uptrend” to an actual “uptrend.”
× ![]()