MMA Weekly Report Nikkei Stock Average By Raymond Merriman Dec.21 2020
【Notice】Mr. Meriman has contacted us, and to take holiday season leave, this year's final issue will be up to this week's issue. Therefore, the December 28 issue will be a day off, and the next issue will be the January 5, 2021 issue.
1. Review
Last week's market closed up 110 points from the previous week at 26,763. The week's low was on the 15th (Tuesday) at 26,605. The week's high was on the 16th (Wednesday) at 26,874. Therefore the week's range moved between the weekly support line and the resistance line, making it neutral. However, since the closing price exceeded the Weekly Trend Indicator Point (TIP) for seven consecutive weeks, the underlying trend remained in an ongoing "uptrend" state.
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