Watching Japan's Nikkei...

After putting in an outside bearish engulfing candle which closed on higher volume below the falling 50 sma (red) today on the Daily chart of Japan's Nikkei e-mini futures index, NKD, price has already fallen below today's low in overnight trading as I write this...it failed to rally to the extent that the U.S. Major Indices has recently. This is another index that I've written about in past posts, and which I'll be watching in the days/weeks ahead as a possible gauge of equity strength/weakness, since it used to trade almost identically to those indices.