The Nikkei Average fell for a fourth consecutive session, closing at ¥67,777.52, down ¥1,972.36 from the previous day. The Parabolic flashed a sell signal, suggesting that market conditions are likely to favor sellers in the short term.
The Nikkei Average fell for a fourth consecutive session on the 13th, forming a bearish candlestick. It closed at ¥67,058.56, down ¥1,972.36 from the previous day, and traded below the 5-day moving average.
The Parabolic flashed a sell signal, indicating that market conditions had become favorable to sellers in the short term. It fell below the level equivalent to approximately a one-third retracement of the advance from the low on 14 September to the high on 6 October, prompting warnings of a risk that the correction could be prolonged.
An explanation also noted that a move below ¥68,107.80 today would bring the market close to the 50% retracement level of the previous advance, and that attention should be paid to the market's direction depending on developments going forward.