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Christopher Lewis

The Nikkei gapped higher at the open on Tuesday, slamming into the ¥19,750 level. Ultimately though, we sat still after that move higher, and now are waiting to see if we can break above the ¥19,750 level in order to reach towards the ¥20,000 level. We believe that area would be a bit resistive, but given enough time we feel the market should break above there. With this, we are interested in going long and buying and holding until we get to the ¥21,000 level. Pullbacks should continue to offer buying opportunities given signs of support.

 

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