Just read your post to Kentucky, TQ. Thank you.

Going back to your thoughts on the NIKKEI 225 Index - I understand and see how you got a po of 10,000, but I think that may be too much to expect near term. As seen in many other charts of general stock market indices, as well as many sector/industry indices, note also in chart below the extremes and non-confirmations.

sc10.png

Glaring at us in this daily chart is the non-confirmation by MACD and RSI of the new low made by the index on Friday. And as in the chart I posted for the Wilshire 5000 index, the extreme oversold reading for MACD is noteworthy.

And can you see a clear 5 waves down since the July ‘07 top? I think a case can be made that the first leg down (wave 1) of the Nikkei Bear, as perhaps also with the Wilshire 5000, may be or is about to be completed.

JBI