Both Nikkei 225 and SiMSCI look strong

First, let's look at Nikkei 225 cash index. Over the past 2 week, the Nikkei had been doing quite well. The trend is bullish. It has made a 3 month high and broken the previous high of 11,410 made on the 7 Oct 2004, refer to candlesticks chart below. If you've studied the weekly chart, you may come to the same prediction that I have - the bull is climbing up to 12,000 level.

Next, let's look at SiMSCI. Since the last post, the SiMSCI has again made new high. The previous prediction on the SiMSCI's trend was right - it was going up. Before we make further prediction as to where SiMSCI is heading, let's take a look at the higher time frame - the weekly chart.

The trend is obvious, isn't it? So is it going to the moon?

Well, just be careful at these levels: 253.0, 255.o and 258.o. The immediate support is at 248.0, so I will definitely put a stop there for any new long position. So if you have bought at levels below 248.o, good for you.