A slow down: after five days of going up, the Nikkei was flat Tuesday and closed at 29,158.

US equity indices are closed for the Children's Day holiday and resume Monday. Meanwhile, here is a recap of Tuesday: the Nikkei closed Tuesday at 29,158 (with a daily low of 29,083) after ending Monday at 29,123 and gaining 0.12%.

This uncertain state for the Nikkei is reflected by published market data as Japan CFTC JPY speculative net positions released yesterday at 20:30 UTC with a figure of -68,300, while the previous figure was -68,700.

Technical chart analysis shows Nikkei is approaching key support, around 96.74 points away from 29,061. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. With regards to technical trend indicators, chart analysis show that investors are seeking long positions as the Nikkei price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that the Nikkei's upper Bollinger Band® is at 29,483, suggesting that a downward move may follow.

Overall, while the Nikkei has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

While the Nikkei was pretty flat Tuesday, mixed performances were seen elsewhere as Dow Jones surges 1.65% Tuesday and closed at 33,128. S&P 500 is trading around 4,136.25 after ending Tuesday's session at 4,061.22 (up 1.85% today). Notably, Nasdaq rose 2.25% Tuesday and closed at 11,966.

The index has been trending positively for about 26 days. The Nikkei hit a significant low of 15.42 around 7 months ago, but has since recovered 188,766%.