Click link for charts and commentary.
(From his Nasdaq forecast)
This has been one of the strongest indexes and just popped to a new high. This is a recognizable pattern of trending, the Nikkei is showing the same pattern of trending. Notice how the trend has been struggling upward, every time it breaks to a new high it immediately fails to follow through and runs down but holds the previous low. This style of struggling trend is always followed by a fast move. It is either accumulation against sellers who eventually run out of stock to sell and the market will then make a vertical move up and eventually exhaust into a high in a few weeks. Or this could be distribution and the weak style of trend will end on one of the break out moves and run down and break a previous low with a strong move down as occurred in February. If this is the start of a vertical move up this index will not break back below the last high and will not move down more than three days at any time until the move up is complete. But breaking back below the last high will look like the weak or struggling trend is complete. Bonds will likely hold the key, again.
Most of the listeners think a cycle is something they ride... 
