I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Wednesday, August 25, 2010

Hey, Do you Remember the 80s?

The NIKKEI sure does. It is reliving its 80s glory years: Miami Vice, Member's Only jackets, The Breakfast Club, Walkman's, etc. But at this rate, they will be revisiting the 1970s.

Because critical support has been broken. The NIKKEI is now trading below the levels seen in May ... of 2009

If you recall my last post on the NIKKEI: Back at Support, I was showing the critical support line just above 9000.

It is now gone. This does not bode well at all.

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