After ten great years with CMC Markets, I have decided it is time to move on to the next phase of my life. I have announced my retirement and am finishing today. This will be my last post as a full time employee. As luck would have it, my last day has turned out to be a fascinating one on the markets.
Japan 225 chart
Stock markets appear to have adopted a largely wait and see attitude to today’s big news. The US tariffs, the announcement of talks with North Korea and tonight’s US jobs and earnings data.
Even so, there has been a mildly bullish tone to stock markets over the past couple of days. Buyers are showing signs of wanting to get involved if short-term event risks are cleared next week
Japan 225 looks a useful chart for this scenario. It has been following a well-established uptrend since June 2016. It bounced off this trend line yet again last Friday and today, broke briefly above the most recent high at 21,808.
If Japan 225 can now close above this 21,808 high, that will look a positive sign another bullish rejection of this trend line. In that scenario, the intermediate trend off the line will be confirmed as up, making both higher lows and higher highs.
On the other hand, failure to close above the recent high at 21,808 could be a warning. Any clear break of the trend line that followed could be a bearish development
I would like to thank all our blog subscribers for your interest. I have very much enjoyed meeting many of you over the years at functions and seminars.
For my part, I will be maintaining an active interest in markets as a trader and investor.
Best wishes to all