The above are edited excerpts from an article* by Chris Kimble (blog.kimblechartingsolutions.com) entitled Nikkei about to impact the S&P 500…Again?.
The following article is presented by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and the FREE Market Intelligence Report newsletter (register here; sample here) and has been edited, abridged and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.
Kimble goes on to say in further edited excerpts:
In early 2007, the Nikkei 225 broke support at (1) [as shown in the chart below] as it was hitting channel resistance and declined. Soon after index’s around the world followed.
The above chart reflects that the Nikkei 225 index hit dual channel resistance at the beginning of this year. It appears to be heavy resistance because the Nikkei 225 rally stopped at dual resistance and so far in 2014, its down 13%. The decline after hitting resistance, looks to be causing a break of support.
In my humble opinion, the Nikkei 225 Index remains a global leader in both bull and bear markets and the action of late in this index should be respected and watched closely!
Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
*http://blog.kimblechartingsolutions.com/2014/05/nikkei-about-to-impact-the-sp-500-again/ (Copyright 2014. All Rights Reserved)