A friend and I were discussing the NIKKEI a few weeks ago, and he was theorizing that the NIKKEI had bottomed (or will soon) and might not drop as much as the rest of the world markets during the next few years. So I decided to take a look .... I am not so convinced.
Note: This count is not compliant with my EWP numbering scheme. I just assumed the 1990 peak as a top, and started counting the major and minor waves down from there (I am not trying to place the SuperCycle/Cycle/Primary Degree Waves for the NIKKEI in the proper place, just counting waves from the 1990 peak, assuming it is the end of a long impulse up). The wave structure looks *very* corrective, and per my counts does not look complete. It looks like a very large double-three in the making with only A-B-C-X-(1-2-3-4)of A done so far, with (5) of A-B-C to go.
This count was done to see if the NIKKEI might be a good place to hide during the next few years, and this count suggests that is not a good assumption. Take this for what it's worth.
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1 year ago