|Nikkei 225 (NKD)|
Saturday, June 1, 2013
The party is over in Japan... for now. A toast to the hottest trade of 2013
All trends eventually come to an end. For Japan's Nikkei 225, that sweet sweet uptrend in effect since mid-November of 2012 has finally come to a close. With the violation of the 50dma and the intermediate trendline, expect NKD to take some time to cool off and recuperate after making an ascent to rival the peaks of Mt. Fuji.
Congratulations are in order to the traders that caught this uptrend on the Nov. breakout and held it through last week. That's a sweet piece of trend-following.