i didn't take as AS bashing, but i know he has been getting kicked lately, i think more because of quantity, he's ok in small doses -g-
stockcharts.com[l,a]daclyymy[de][pc20!b200!a11][vc60][iUb14!La12,26,9]
the nasdaq and nikkei run pretty good in tandem, it's breaking out of a bear trap base (check out that abandoned stick at the bottom), the bearishness on japan to me anecdotally reached almost the bearishness of the 98 bottom, looking at the above chart i would be more fearful to be short than long -g-
the nwx is attempting to break out of an inverted H&S base, as is the nasdaq, during bear markets inverted H&S patterns fail, i don't think this one will.
my feeling (wag) is that we have seen the extreme in bearish sentiment, shown in rydex # and put/call ratios, for this segment down from march 00, and we will have to see more exhuberance before another leg down is possible, that's starting to show in some of the sentiment figures, but i think it will take more time to get the necessary bear capitulation.
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