日経平均 メジャーSQは9月水準を割り込む36,483円。下落トレンド入りの準備も意外高もあるか？_2025/3/14相場雑感

日経平均はメジャーSQ値で9月水準を割り込む形も、大崩れはせず、米国とのチキンレースのズレが要因か。EPSモメンタムがまだ強い中で景気後退を完全には織り込まず、まだまだ強気派がいる状況？戻り売りも視野にいれつつ、首相の退陣等のサプライズによるWトップ高値（次回メジャーSQ？）を目指す可能性も認識しながら今度の相場に挑む。 The Nikkei Average dipped below September levels at the major SQ price but avoided a significant collapse, possibly due to misalignment in the "chicken race" with the U.S. While EPS momentum remains strong, a full pricing-in of a recession has yet to occur, leaving bullish sentiment still present. While considering selling into rebounds, keep in mind the possibility of a W-top high (perhaps by the next major SQ) driven by surprises, such as the resignation of the Prime Minister, as we approach the next phase of the market.