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

Trading is currently halted for Constitution Memorial Day but will resume Monday. Meanwhile, here is a recap of yesterday: with a daily low of 29,083, the Nikkei closed yesterday at 29,158, after ending Monday at 29,123 and gaining 34.77 points (0.12%).

Trend-following investors would be interested to note that investors are seeking long positions as 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. Chart analysis indicates the 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.

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 yesterday, mixed performances were seen elsewhere as ASX 200 lost 0.96% yesterday and closed at 7,267.4. KOSPI Composite Index retreats 0.91% yesterday and closed at 2,524.39. Hang Seng lost 1.18% yesterday and closed at 19,934.

The Nikkei hit a significant low of 15.42 around 7 months ago, but has since recovered 188,766%.