Nikkei Tokyo Index (16,127)

As expected, the Nikkei Index has tracked along its 100/200-Day Moving Averages in recent weeks. I had previously assumed that once this process was over, we would see a correction.

I've now come to suspect that the next push could be higher rather than lower, If so, we might possibly retest the Apr/06 high in the area of 17,500.

No change in the positive intermediate term outlook.