The Nikkei 225 has been flying, while the global markets are down to flat,  since the November 5th Bank of Japan announcement that it would be purchasing equity ETFs as part of its QE program (click here for our post).   That is, the Central Bank printing money to buy equities!

Many were skeptical the program was not enough to weaken the Yen.  The chart below shows their announcement coincided with the recent high for the Japanese currency.

The Nikkei has recaptured the 200-day and we wouldn’t be surprised to see the momentum boyz gun the market higher into year-end.  We’ll change our view if the index fails to hold its 200-day moving average  Stay tuned.