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Japanese Stock Index, Nikkie 225 Breaks Above 20,100 But Can It Hold?

October Shock in Equity Markets

The Japanese Nikkei 225 stock index broke 20,100 last week and we were surely bullish in the rally to 20,400 – but it could not hold. Right now, this index is trading firmly in a 20,400 high and 19,000 low range – with solid trading in this 1400 point space. Smart money seems to be playing this range well and some are saying the market could trade tightly for at least another month. I would think that the smarter players are favoring shorts above 20,100 then buying back on dips below 19,300…..range trading or adjusting each time the market sells off. More on this range in the coming days, weeks.

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