Nikkei forecast: 2014, July 13 - 20

The Nikkei as you can see had a slightly negative week, but we still sit above the ¥15,000 level, a key support level in our opinion. We think that the market is probably going to bounce around between ¥15,000 and the ¥15,500 levels, so with this we believe that a break above ¥15,500 would in fact constitute a move to the next leg higher. Any pullback at this point in time should find plenty of support all the way down to ¥14,000, so we are essentially in the “buy only” camp right now.