In today’s video, we take a look at short-term Elliott Wave Structure of Japanese Nikkei 225. Initial move up from 14402 low was in 3 waves which completed wave (( w )). After that Index made a 50% pull back which completed wave (( x )) and has since made a new high to 0.618 ext of (( w )) – (( x )). Index is now expected to pull back in wave ( x ) which could test 15066 – 15006 area before it turns higher again toward 15591 – 15782 region to end the cycle from 14402 low. We don’t like selling the Index and ( x ) wave dip should find buyers ideally in 15066 – 15006 area as far as pivot at 14785 (( x )) low remains intact. If this pivot gives up, that would suggest cycle from 14402 low ended already as a triple three structure.
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