Nikkei forecast for the week of February 15, 2016, Technical Analysis

The Nikkei fell rather rapidly during the course of the week, closing below the ¥15,000 level. This of course is a very negative sign, and we are starting to test serious support. A bounce is likely, but quite frankly we think that is going to end up being a selling opportunity. Ultimately, stock markets around the world look very depressed, and the Nikkei of course isn’t going to be any different than the rest of the world, and that should mean this market can be sold again and again.