Nikkei 225 for Tuesday, October 22, 2024

NT Ratio: 14.54 ⇒ 14.49. Yesterday, the Nikkei225 was sold off, but today, everything was sold off.
Arbitrage positions are gradually being unwound.
The consecutive bearish candlesticks for the Nikkei225 during the day seem to indicate a sell-off of physical stocks, which could be interpreted as an unwinding of arbitrage positions.
As of Friday the 18th, there are still 769 million shares of arbitrage positions remaining. While it's still quite a large amount, it could be dumped all at once if something happens, creating very unstable market conditions that require careful attention.