An interesting day: the Nikkei jumps to the 29,000 level

The Nikkei ended today's session at 28,856, yet managed to reach 29,000 today and is currently trading at 29,123.

Technical analysis trend indicators suggest 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 29,171, this is a slight indication of a slowdown. Chart analysis suggests the Nikkei could be slowing down soon as it approaches resistance at 29,342. Of course, crossing it might suggest further gains are ahead.

Notwithstanding the Nikkei's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

The Nikkei shows positive signs, other assets are also on par: Dow Jones climbs 0.8% today and closed at 33,826. FTSE added 0.5% and closed around 7,831.58 today. S&P 500 improves 0.83% today and closed at 4,135.35.

The Nikkei is now trading 187,036% above the significant low (15.42) it slumped to 7 months ago.