Nikkei Back Below 9,000 (-3.55%, 8,824), Nikkei Futures Charts (NKY, EWJ, NK_U, NK_Z)

The brief rally (1, 2) might be over in Japan after the initial Nikkei 9,000 breach on 8/24. The Nikkei blasted through that level again today, closing down 3.6% at 8,824. Anyone know where I can find a chart of the Nikkei Volatility Index ($VXJ)? I bet it was going crazy these past few weeks.

If I were forced to be a perma-Nikkei 225 bull, I'd watch for a downtrend breakout and of course a break above 9,000. Until then, like I said on 8/24, the Nikkei could swim in the 8000's for a bit and perhaps test the 2008/9 lows if Japan double dips. I'm watching to see what happens with the S&P at neckline support. U.S. E-Mini futures are currently unchanged to slightly lower at 5:02/6:02am. Below is the 1-day Nikkei Index move and the September (NKU10), December (NKZ10) Nikkei futures.

Nikkei 225 Index, 8/31/2010 (Bloomberg)

NKU (Nikkei 225 September Index September Future) Daily Chart via OptionsXpress

NKZ (Nikkei 225 Index December Future) Weekly Chart, watch downtrend

Related Posts


HTML Comment Box is loading comments...