NIKK Nikkei Index (Japan) Daily Chart; 16th Consecutive High; Overbot and Extended RSI; Negative Divergence Developing; Upper Band Violation

On Tuesday, 10/24/17, the NIKK ends the session with the sixteenth record closing high at levels not seen since July 1996. The Nikkei Index gains +0.5% to 21805 closing at the high. The Topix gains +0.666%. The RSI is at a phenomenal 89+ at extremely overbot levels like the Dow Industrials in the United States. The indicators are overbot. The red lines show neggie d. Price has violated the upper standard deviation band. All these signals are bearish.

The middle band at 20923 and rising is on the table. The NIKK will likely trade with a jog move over coming days down, then back up for a higher higher high. At that time, check to see if the MACD line and RSI turn neggie d, if so, the top is in on this daily chart. Nikkei futures are higher going into the Wednesday trade.

The ADX shows the upside trend is strong in this daily time frame. The NIKK peaked above 38K in 1990. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.