MMA Weekly Report Nikkei Stock Average By Raymond Merriman Sep.13 2021
1. Review
Last week the Nikkei 225 closed at 30,381, up 1,253 points from the previous week. The week's low was 29,469 on Monday the 6th, and the week's high was 30,381 on Friday the 10th, marking the close of the week's trading at that high. Moreover, since this closing price exceeded the weekly upper resistance line, it was bullish, and the Weekly Trend Indicator Point (TIP) surpassed the previous two weeks. Therefore, although the underlying trend would ordinarily remain “neutral,” it has been upgraded to “near an uptrend” due to having updated its cycle high.
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