Howard Simons, "Comparing the Nikkei and the NASDAQ"
[excerpt:]
While correlation doesn't imply causality, this is a picture that can really get your attention...
The NASDAQ has failed earlier in time and lower in price than the Nikkei did at a comparable point in its history.
Now comes the real ugly part: If the analog holds, the Nikkei punched down another 61.4% between April 14, 2000 and April 25, 2003.
The NASDAQ has failed earlier in time and lower in price than the Nikkei did at a comparable point in its history.
Now comes the real ugly part: If the analog holds, the Nikkei punched down another 61.4% between April 14, 2000 and April 25, 2003.
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