Nikkei is Tanking: Get Ready to Hit 19300
Rowan Crosby • 1 min read
The Nikkei has been selling off hard today and it appears that there might be more to come. I've been watching 19300 as this is a pretty signicant area in the Nikkei. As it stands this is the longer term 200 SMA which is a baraometer for the key indicator for the health of an equity index in my opinion. We've seen the Russell in the US take out the 200 SMA and that opens the door for a potential downside move.
For now I'll be looking for a test of that level.