In December, we posted a popular chart highlighting the Nikkei 225’s attempt to break out above its epic 20-year old down trendline (http://stks.co/h04Te):

3 months later, the Nikkei appears to be following the 2007 precedent of a failed breakout:

Here’s a closer look at the comparison between the current market and the 2007 precedent, with its ominous implication: