S&P-Nikkei Performance Spread Wide, Nikkei >9000, E-mini S&P Future at Inflection Point (ES, NK, SPY, EWJ, Japan)

Right now I'm watching Nikkei 225 Index Futures (September/December), the ES-NK performance spread and E-mini S&P December Future. Starting in July, the performance spread between the E-mini S&P and Nikkei 225 Index widened dramatically. I wonder when and how the gap closes, or if Japan and U.S. growth rates (or prices) diverge from here. These are financial futures in case you are lost.


Nikkei (NK) vs. E-mini S&P (ES) - December Future (courtesy of optionsXpress)


Nikkei 225 Index Futures are still trading in a descending channels but could be forming a falling wedge reversal pattern. You can see the downtrend and apex point to break. 


Nikkei 225 Index September 2010 Future - NKU10


Nikkei 225 Index December 2010 Future - NKZ10


Last but not least, the E-mini S&P December Future. It's trading in a symmetrical triangle near the inflection point with a 200 day moving average battle ahead.


ESZ10 - E-mini S&P 500 DEC 2010 Future

Charts courtesy of optionsXpress

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