and you can see the divergence again this week, nippon missed massive industrial conglomerate and komatsu, caterpillar's big competitor missed panasonic. really not good. now, a few charts. take a look at the ewj, this is the etf that tracks the nikkei or the topex, and you can see the well-defined down tren line in effect for a year and every time it's gotten up to that trend line it's hit its head to the penny and in fact just a week or so ago. and so, one -- two more charts next one, this is a little tighter, up close and what we know is we have a double top meaning the ewj couldn't even get above its june high. then the final chart i'v drawn here we're hovering ominously right at the intermediate lows in effect so poor relative performance, diverging from the s&p, major trading companies in japan coming out with very bad earnings, and it speaks to the question of is there a global recovery >> all right mike what's the trade off the back of that >> one of the things, we take a look at some of the top constituents in ewj, some well-known names worldwide and easy to imagine some negative