From the desk of Steve Strazza @Sstrazza
Last week’s Mystery Chart featured an ominous rounding top, complete with price violating key lows as it aggressively collapsed.
Today, we’re going to turn that frown upside down. It actually wasn’t a rounding top at all.
We inverted the chart, as we often do, in an effort to make some of you out there aware of any bullish or bearish biases you may have.
In other words, if you were buying this chart (which most of you were NOT), you are really a seller. And if you’re a “seller” who only bought the Mystery Chart because you have a bullish bias, you might now be wondering why you would ever bet against such a nice base.
When we flip this chart around, you can now see we’re looking at a massive base on Japan’s Nikkei 225.
In this post, we’ll check in on the Nikkei and see what market breadth is signaling about the internal strength of the Japanese stock market.