Truff, the only nikkei chart on the web i know of is a long term chart at decisionpoint.com
well, it went down hard, from january first 1990 for about three weeks, it was a sudden turn from bull to bear. it then bounced around for a few weeks into february and then the plunge accelerated and didn't stop before the 'sucker's rally' i mentioned began. at the starting point of that rally, all the gains from late '88 onwards had been wiped out.the rally took the index from 28,000 in april '90 to 32,500 in july; it made a little double top and then the plunge resumed with even more force than before, taking the index to 20,000 by september '90. than another rally took it back to 27,500, the intraday low reached before the first counter-trend rally had started; this one lasted until january '91. then it plunged again, bounced from a *higher* low and started to plunge again from a lower high, all in relation to the rally immediately preceding. by the start of '92, the plunge accelerated once more, taking the nikkei to 14,500 by the summer of '92.
regards,
hb |
