MMA Weekly Report Nikkei Stock Average By Raymond Merriman Aug.2 2021
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1. Review
Last week the Nikkei Stock Average closed down 264 points at 27,283 from the previous week. The week's high was 28,306 on Monday the 26th. The week's low was 27,272 on Friday the 30th. Since the closing price stayed within the weekly support line, the week was almost bearish. However, because this closing price remained below the weekly Trend Indicator Point (TIP) for five consecutive weeks, the underlying trend remains "downward."