tokyo stock market ripped higher after the election into a buying climax (BC) on the 10 NOV.
after that a sharp automatic reaction (AR) set up the trading range.
from that low on the 10th NOV market rally to upthrust though the BC key level at 25865
Now price is below that level and retesing the underside of resistance.
Possible that a move down into 24800 will be followed by a bounce.
the character of that bounce will likely be telling for move to new highs or further downside.
for the moment have placed stops at 26080 short targeting the lows 24800.
steady as she goes.
after that a sharp automatic reaction (AR) set up the trading range.
from that low on the 10th NOV market rally to upthrust though the BC key level at 25865
Now price is below that level and retesing the underside of resistance.
Possible that a move down into 24800 will be followed by a bounce.
the character of that bounce will likely be telling for move to new highs or further downside.
for the moment have placed stops at 26080 short targeting the lows 24800.
steady as she goes.