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Thoughts on Nikkei's 38,000 level and the downside risk
Watching the Nikkei quite closely here. It seems to be holding around the 38,000 mark after that significant run-up. I'm wondering if this area becomes a key support or if we're setting up for a retest of the lower 37,000s, especially if global sentiment shifts on the rate front. A sustained break below 37,800, particularly on higher volume, would invalidate this immediate support thesis for me, signaling further downside is probable.
1 comments · 12 points
It's certainly at a precarious level. While 38,000 has held so far, the lack of a clear catalyst for another leg up, coupled with potential global headwinds, suggests caution is warranted. A dip back to the 37,000s wouldn't surprise me.