Chart of the Day - Wednesday, January 10, 2024

🏆 Today’s Chart of the Day was shared by Nautilus Research (@NautilusCap).

• Japan went through one of the biggest asset bubbles in history between 1985-1990. It still hasn’t fully recovered, but it’s getting very close, with the Nikkei 225 closing at a 34-year high yesterday.

• Nautilus points out that the Nikkei is remarkably fractal right now, meaning parts of the pattern resemble the whole pattern.

• Japan is emerging from the same bullish pattern in three different time frames: a 6-month base (daily), a 2-year base (weekly), and a 3-decade base (monthly).
  
  The takeaway: Japan is recovering from one of the biggest asset bubbles in history and breaking out across multiple time frames.