Saturday, May 10, 2014

Weekly Market Reivew N225

N225 closed at 14,199.59 on Friday, 9-May-2014, lost 257.92 (1.78%) over the last 3 trading days.  NKVI moved slightly up ending the week at 21.47.

N225 broke down out of the tight range (+/- 100 pts) after the two days public holiday.  And this established the lower high we mentioned in the past 2 weeks.

In last two weeks review, I mentioned if we have a lower high, we may end with a lower low breaking the past low of 13750 or/and 13180.  14,000 remains to be the psychological support.  The break of last low 13,885.11 will mean we have a lower low, establishing a short term down trend.

NKVI at 22.47 is still at the lowest range of 20-30 for the past 3 months.  There are only 5 days in 2014 that were lower than 22.47, with two days happened on last two days in last week.  Will we get back to 25+/- soon?

SPX closed at 1878.48, just 2.85 points up on Friday.  Why do I feel that SPX is loosing strength to climb up?

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