{"id":5931,"date":"2024-09-23T21:44:02","date_gmt":"2024-09-23T21:44:02","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=5931"},"modified":"2025-05-14T09:01:34","modified_gmt":"2025-05-14T09:01:34","slug":"nikkei-dark-days-for-rising-sun","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/","title":{"rendered":"Nikkei Elliott Wave: More Dark Days for the Rising Sun?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Nikkei has rallied beyond our August 7 forecast of 36,600-37,600<\/li>\n\n\n\n<li>Possible secondary high at 39,195, otherwise another high at 40,000-40,300 possible<\/li>\n\n\n\n<li>Break below 37,264 opens the door for retests of 35,000 and 31,000<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Nikkei Rallying in a Corrective Wave?<\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeRo_nGug4yKzx8-YGfs3AgrXveM9eL0WA_WcEdvJVvMtALroE1WmnOHMEeSKhVbbleF2FXEp9nd_MwUgaQtWLk3uI_vIl2fdUDV9WBd89yNIP2gkr-_w7hcxB0m3JXu5ZL5tWVF777HvbS0YWxxHsTRyk?key=P3tNSsActAdjhjiWEmlD3A\" alt=\"\" \/><\/figure>\n\n\n\n<p>Nikkei has rallied nearly 25% from the low registered on August 5, 2024.<\/p>\n\n\n\n<p>Shortly after the collapse on August 7 in \u201c<a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-correction-incomplete\/\"><em>Correction Appears Incomplete<\/em><\/a>\u201d, we forecasted a shorter-term rally that might carry to 36,600-37,600. The forecasted rally would be viewed as a temporary bounce within the context of a larger downtrend.<\/p>\n\n\n\n<p>Since that forecast, Nikkei has rallied even higher to reach 39,195 on August 30.<\/p>\n\n\n\n<p>There is a wave relationship that hints a secondary top could form in that price zone. Therefore, it is possible that the August 30 high is the secondary top. The price decline beginning August 30 does have an impulsive patterned structure. Therefore, the original forecast of an ongoing larger decline remains in force.<\/p>\n\n\n\n<p>So long as price remains below 39,195, be on the lookout for a continued price decline that retests the 35,000 low and possibly lower levels.<\/p>\n\n\n\n<p>A break below 37,263 would signal the decline is resuming.<\/p>\n\n\n\n<p>If Nikkei does punch above 39,195, I suspect the breakout would be temporary, possibly reaching 40,000-40,300 where the next wave relationship resides.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>We are looking for signs of a secondary top in wave ii. It is possible that 39,195 is the secondary top and a break below 37,263 will build more evidence a bigger top is in place.<\/p>\n\n\n\n<p>If Nikkei continues to rally above 39,195, then the next level of resistance and wave relationships is in the 40,000-40,300 price range.<\/p>\n\n\n\n<p><strong><em>You might also be interested in:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/silver-shine-and-climb\/\">Silver Shine and Climb<\/a> [Elliott Wave]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nikkei may face further declines despite recent gains. Watch for resistance at 39,195 and 40,000, with potential retests of 35,000 or lower if 37,263 breaks. <\/p>\n","protected":false},"author":160,"featured_media":5932,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-5931","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nikkei Elliott Wave: More Dark Days for the Rising Sun? - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Nikkei may face further declines despite recent gains. Watch for resistance at 39,195 and 40,000, with potential retests of 35,000 or lower if 37,263 breaks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nikkei Elliott Wave: More Dark Days for the Rising Sun? - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"Nikkei may face further declines despite recent gains. Watch for resistance at 39,195 and 40,000, with potential retests of 35,000 or lower if 37,263 breaks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/\" \/>\n<meta property=\"og:site_name\" content=\"Alchemy Markets\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-14T09:01:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/09\/Nikkei-elliott-wave-sept-23-2024.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tempo di lettura stimato\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minuti\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nikkei Elliott Wave: More Dark Days for the Rising Sun? - Alchemy Markets","description":"Nikkei may face further declines despite recent gains. Watch for resistance at 39,195 and 40,000, with potential retests of 35,000 or lower if 37,263 breaks.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/","og_locale":"it_IT","og_type":"article","og_title":"Nikkei Elliott Wave: More Dark Days for the Rising Sun? - Alchemy Markets","og_description":"Nikkei may face further declines despite recent gains. Watch for resistance at 39,195 and 40,000, with potential retests of 35,000 or lower if 37,263 breaks.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/","og_site_name":"Alchemy Markets","article_modified_time":"2025-05-14T09:01:34+00:00","og_image":[{"width":1792,"height":1024,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/09\/Nikkei-elliott-wave-sept-23-2024.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Tempo di lettura stimato":"4 minuti"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/","name":"Nikkei Elliott Wave: More Dark Days for the Rising Sun? - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/09\/Nikkei-elliott-wave-sept-23-2024.png","datePublished":"2024-09-23T21:44:02+00:00","dateModified":"2025-05-14T09:01:34+00:00","description":"Nikkei may face further declines despite recent gains. 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