Nikkei Index (16258)

The Nikkei has fallen almost 400 points from its high since I called for a general market pullback in early February. Short term price momentum was hemorrhaging as I wrote back then, and more recently my unique intermediate term price momentum models have signalled possible trouble ahead.

The long term picture remains positive, but after such a huge recent runup, a great deal of damage is possible if an intermediate term correction takes hold. I'm standing aside.