Let’s take a look at the Nikkei today and we will look at the monthly chart. We have highlighted the Nikkei because we believe the BOJ is in a very precarious position and it seems nobody is watching but we are putting in another negative candlestick in the monthly chart:
You have to go back to 2008 in order to find a 4 bagger negative monthly consecutive run, so this is very significant.
We know back stateside the MEGA8s have held up the entire market but look at the monthly on this one. A Hammer candle formation would prove very significant here on the monthly:
