Nikkei $NKD Elliott Wave Analysis: Extending Lower
Short term Elliott Wave count suggests that rally to 17173 ended wave (W). Decline from there is unfolding as a double three where wave W ended at 16300 and wave X bounce ended at 16883. Near term, while Index stays below wave ((x)) at 16605 and more importantly as far as pivot at 9/22 (16883) high stays intact, expect Index to resume lower towards 15748 – 15962 area to end cycle from 9/2 peak. We don't like buying the Index.
At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer.