Nikkei remains in a long term bear market but the recent rally to some may appear as a new beginning especially with the stimulus. Wave wise Japan in in wave c of B which can extend to various retracements but should not exceed the long term falling channel at 14000. 12780 the 50% retracement level where c=a might be the best level for a reversal though. After that wave C down will see the continuation of its 20 year bear market. However that will be in larger wave Z which is usually the last leg of a bear market. In other words Z should see Japan finally deleverage and bounce back. They will then fianlly put the worst behind them. A great place to be in afterwards, after 2016. But then by then so will have China. And of course India, so why go anywhere just wait...India your time will come.