NIKKEI 225 hits 10,000

Then plummets back to earth! (Hopefully not)

Just interesting to see another market cross a milestone even if for a short period.

Considering the Nikkei has experienced a 20year bear market, and the US is about 9 years into their protracted bear (yes the Bear started in 2000 I hate to say it, check the Inflation Adjusted Dow. 2007 was a lower high), I'd say its soon time to get bullish on Japan http://www.stockrants.com/forum/web/smilies/grin.png

Also here's an interesting comparison for you, Nasdaq from 2000-present vs. Nikkei from 1989-Present.

The Nikkei confirmed a strong end of the year closing well above the top of 2013 suggesting further upside potential especially in case of a break above 18?325. The monthly closing was instead negative, even below the opening and also the weekly one was negative and also here below the opening. The daily closing on Friday was also negative reversing the previous day?s performance.

The Nikkei confirmed a weak closing today well below the s/t support line but also well below the 50 days line, now resistance at 17’078. While below this line we favour further weakness toward 16’500 with the key level at 16’440!!

The indicators of the daily chart are still well negative as well as those of the s/t charts supporting further weakness. Bullish divergences in the hourly chart support a negative tone.

The drop already confirmed our s/t target at 17’050 suggested yesterday. Me expect further weakness! Possible rebounds should find resistance already 17’070 before the strong 17’200 area