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skills/market-environment-analysis/references/indicators.md
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# Market Indicators Reference
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## Major Stock Indices
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### Japan
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- **Nikkei 225**: Stock price average of 225 representative stocks on Tokyo Stock Exchange Prime
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- Key levels: 30,000, 35,000, 40,000 yen
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- Moving averages: Emphasize 25-day, 75-day, 200-day lines
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- **TOPIX**: Market-cap weighted average of all Tokyo Stock Exchange Prime stocks
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- Better reflects overall market
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- Heavily influenced by banking/financial sector
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### United States
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- **S&P 500**: 500 large-cap US stocks
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- Most representative US stock index
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- Key levels: 4,000, 4,500, 5,000 points
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- **NASDAQ**: Tech-focused
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- Reflects mega-cap tech stock trends like GAFAM
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- Higher volatility
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- **Dow Jones Industrial Average**: Simple average of 30 stocks
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- Historically significant but limited representation
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## Foreign Exchange Rates
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### USD/JPY (Dollar-Yen)
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- Greatest impact on Japanese economy
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- Key levels: 140, 145, 150, 155 yen
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- BOJ intervention alert line: Reference past intervention records
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### EUR/JPY (Euro-Yen)
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- Related to European economy
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- Influenced by ECB policy
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### CNY/JPY (Yuan-Yen)
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- Reflects Chinese economic trends
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- Indicator of Asian trade
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## Volatility Indicators
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### VIX Index (Fear Index)
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- Calculated from S&P 500 option prices
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- Quantifies market anxiety psychology
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- Interpretation:
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- 10-15: Low volatility, stable market
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- 15-20: Normal range
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- 20-30: Unstable, caution needed
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- 30+: High stress, panic selling
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### Nikkei VI
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- Volatility indicator for Nikkei Average
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- Japanese version of VIX
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## Commodities
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### Crude Oil (WTI/Brent)
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- Important as inflation indicator
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- Reflects geopolitical risks
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- Key levels: 70, 80, 90, 100 dollars/barrel
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### Gold
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- Representative safe asset
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- Tends to rise during dollar weakness/inflation
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- Key levels: 1,900, 2,000, 2,100 dollars/ounce
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## Interest Rates & Bonds
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### US 10-Year Treasury Yield
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- Most critical interest rate indicator
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- Direct impact on stock valuations
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- Key levels: 3.5%, 4.0%, 4.5%, 5.0%
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### Japan 10-Year Government Bond Yield
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- Reflects BOJ policy
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- Watch YCC target range
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## Sector-Specific Focus Points
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### Technology
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- AI-related stock trends
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- Semiconductor cycle
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- Regulatory risks
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### Financials
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- Heavily influenced by interest rate trends
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- Bank lending attitudes
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- Non-performing loan ratios
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### Energy
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- Linked to crude oil prices
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- Impact of decarbonization policies
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- Renewable energy shift
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### Consumer
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- Consumer confidence index
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- Retail sales
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- Inflation impact
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