NIKKEI SHOWING WEAKNESS
the Nikkei's recent up trend seems to be weakening. on the CCI we are getting some divergence, also on the RSI and SlowStoch it is appearing although not as notable yet.
i will be looking for opportunity from the 4HR chrt in the recent past it has put in triple tops before moves down, but each move has been have less power. there is a strong rejection candle in place at just below the 19900 level, if we mange to get back up there and reject it again, it will open up the possibility for a move to the trend line.
also if we look at where the "smart money" has been, it has been reducing exposure in us markets, Seems retail has been the big buyers this year.
this seems to be in line with the divergence we have been seeing on multiple indices. so buyers beware that this may be approaching the top.
i will be looking for opportunity from the 4HR chrt in the recent past it has put in triple tops before moves down, but each move has been have less power. there is a strong rejection candle in place at just below the 19900 level, if we mange to get back up there and reject it again, it will open up the possibility for a move to the trend line.
also if we look at where the "smart money" has been, it has been reducing exposure in us markets, Seems retail has been the big buyers this year.
this seems to be in line with the divergence we have been seeing on multiple indices. so buyers beware that this may be approaching the top.
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