Master the Market with Kōno Kōya: Enjoy the Market — Episode 13 [Kōno Kōya]

Hiroshi Kurosawa Profile

After joining Japan Kanko Angled Securities (now Mizuho Securities) in 1971, he worked as an analyst in the Research Department. After a stint in the United States, he continuously conducted information and market analysis on Japanese stocks. In 1996, he transferred to an asset management company (now Asset Management One), served as Head of Research and Head of Asset Management, and later held the position of Executive Managing Director and Head of the Investment Trust Operations Headquarters. He retired in 2012. Since then, he has appeared on TV and radio. His market analysis experience focusing on Japanese stocks spans nearly half a century.

Newsletter:https://www.gogojungle.co.jp/finance/salons/8812/

※This article is a reprint/reedit of FX攻略.com March 2021 issue. Please note that the market information written in the main text may differ from current market conditions.

※Data is as of the end of December 2020

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Market Trends Since November 2019

By reflecting on the market in 2020, I would like to use it as a reference for forecasting the 2021 market. First, I would like to grasp the market flow since November 2019.

■ Market Flow … After a 'strong' market, a few months of consolidation

The definitions of strong and consolidation here are indicated by the deviation from the 20-day moving average. A strong market is a state where the deviation from the 20-day moving average is maintained at +3% or more. A consolidation market means the deviation from the 20-day moving average remains within the range of ±2% for a considerable period. For the consolidation markets from 2019 to 2020, please refer to Tables ①–④.