Japan's NIKKEI225

5 июл. 2020 г.

Nothing too surprising here, crash, flag off the lows. It, too, like some of the other indices, looks ready to roll over. It's out of that flag and is presently pressed hard into a coil. To interpret that as a move up would require us to believe that it can break the multi-decade trend line above it (red). I find that to be incredible, frankly, largely because of the fundamentals right now, and the long-term technical picture.

Long-term chart looks like the last thirty years has been a huge zig zag correction pattern.



I see nothing bullish about this until we get back to the bottom again and there is really just no room up right now. That's a doozy of a move.

And shelve this for anyone who thinks endless central bank balance sheet expansion will turn out well.