The Nikkei 225 now finds itself at its “Half Way” point of the 20-year crash, based up 1989 highs and 2009 lows. Could it be creating a topping pattern or major reversal at a critical price point? What this important index does at a key price zone could end up impacting stocks in the states and around the world?
Below looks at the chart patterns of the Nikkei 225 over the past 30-years on a monthly basis-
S&P futures gave up early gains and were trading down -0.2%, as Donald Trump completes his first Asian tour and as pressure mounts on U.K. Prime Minister Theresa May, sending the pound plunging. European stocks fell, tracking many Asian shares as the Nikkei plunge accelerated.
Yesterday's Japan flash-crash inspired selling continues for a second day, with global equities - and bonds - sliding early Friday on concerns U.S. tax reform - and corporate tax cuts - will be delayed after Senate Republicans unveiled a plan that differed significantly from the House of Representatives’ version. After suffering their biggest plunge in 4 months on Thursday, European stocks failed to find a bid along with Asian stocks, while U.S.
There was something poetically ironic about last night's 800+ point crash in the Nikkei...
... which was saved in the last minutes of trading by what was rumored to be the latest blatant BOJ intervention: it took place right after the month in which a record number of foreigners rushed into Japanese stocks, chasing the record momentum of the Nikkei and Topix.
According to the latest data from the Japanese MOF, in October foreigners made the largest investments ever in Japanese equities in October.
By Chris at www.CapitalistExploits.at
These folks were probably worth more than Justin Bieber.
And this guy was still alive... and even though dressed like a peacock, amazingly popular.
1989 was also the year the Japanese stock market topped out.
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