MMA Weekly Report Nikkei Stock Average By Raymond Merriman July.19 2021
【Notice】Mr. Mereman will be on vacation next week, so the July 26 issue will be 휴休. The next issue will be August 2.
1. Retrospective
Last week the Nikkei Stock Average closed down 62 points from the previous week at 28,003. The week's high was on the 13th (Tuesday) at 28,852. The week's low was on the 16th (Friday) at 27,847. Although the weekly high exceeded the upward resistance line, the close price fell below it, triggering a bearish signal. Moreover, this closing price has fallen below the Weekly Trend Indicator Point (TIP) for three consecutive weeks. Therefore, the overall stance has been downgraded to a “downward trend.”
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