Nikkei remains short of breakout
StockCharts.com Blogger Arthur Hill reporting:
While the S&P 500 moved above its mid July high, the Nikkei 225 ($NIKK) remains short of a breakout and within a downtrend still. $NIKK surged to resistance last week, but fell just short of 9800 and pullback on Friday. A break above this resistance level is needed to reverse the downtrend.
Are we going to get a worldwide “It’s a Breakout!” scenario?
ArlingtonJB 1:32 PM on August 2, 2010 Permalink | Log in to Reply
I think Japan is the only Asian market that hasn’t broken out today. I was stalking the Taiwan ETF (EWT) and it gapped up and hasn’t had a good pullback. Have to keep an eye on EWJ
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