Nikkei expanded the correction pattern.

8 ביולי 2015

Nikkei was under huge pressure today. Regardless the reason behind the move, I identify it as the 4th wave correction(Purple). I expect the price action of this 4th wave to be confined by the black pitchfork. It could possibly spike lower and test May 2007 high at 18306. I think buy dip into that area and sell the first rally into the medium line is good play here.