Stock markets just don’t quite know how to go backwards at the moment. For that reason, we only want to be trading with the trend for the time being. Fortunately, almost all markets are giving us some great opportunities.
However, it’s really been the Nikkei that has been one of the very best performers in recent times. In some ways, it’s been leading some of the others including the S&P 500.
What’s been particularly nice about the Nikkei chart, is the price action. The pullbacks have been quite clean and if you look closely, the RSI has been a helpful tool in identifying those pullbacks.
If we get some more weakness today then I’ll be looking for another long entry in the Nikkei. However, I want to first see an RSI below 20 to get us started. Skerdian identified a profitable opportunity in the Nikkei yesterday so keep an eye out for more potential signals.
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