The Nikkei

Looks like the Nikkei ($NKY) is plunging overseas. The plunge will probably show up later today in the data download, but let’s take a look at her current chart and her relative performance to the S&P500.

Thumbnail image for N225.png
The smart money has been exiting since the end of may. That’s one ugly black candle* here. Price action is below the 50DMA.  Due to the window of the chart, the 200DMA is not shown.
SP500vsN225.pngThat’s one ugly change in relative performance too. If you were long the $NKY, you should consider your strategy and positions.

*For reference: The Quantmod R package colors a gap higher open but lower daily price as a black filled candle.

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