NIKKEI....

I did some long side trading in the $NIKK following the 2011 quake / tsunami partly
because of the old maxim that chartwise, all price gaps get filled. The trades were
ok, but it took quite some time for the market to fill the gap down in price that came with
those horrible events. Japan has taken a turn to heavy duty QE in an attempt to bolster
its very low growth and to shake off deflation pressure. This move has triggered a
parabolic run up in the NIKKEI since last Dec., a run which has created one of the
strongest overboughts ever seen in the modern era for a major market. On its way
up, the index experienced several gaps up in pricing and you have to wonder whether
and when the larger gaps will be filled by corrective price action. $NIKK Daily
Truly rowdy stuff.