This week drop is about the same as last week gain. In fact, most of the lost was contributed by Friday drop. We will need to see if N225 holds above 15,000 and the previous low of 14830.99 to determine if the uptrend has paused/reversed.
On the Weekly chart, although it was a bearish bar, N225 is still on an uptrend.
NKVI continues to move down. In fact, the Thursday low of 16.31 is almost the lowest since 4-Jan-2011 (the earliest date available from http://indexes.nikkei.co.jp/en/nkave/index/profile?cid=6&idx=nk225vi), with only 3 days lower than 16.31.
Will it revert to mean? How low can it go?
SPX closed at 1968.17, 3.74 points on Friday.
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