April 3, 2010 new update
Note from dshort: Earlier today I posted an update on the Nikkei following the March 11 earthquake. Let's now put the recent index behavior in a long-term perspective. Here is a look at the Nikkei 225 which gives an overview of the cyclical rallies and their duration during Japan's secular bear market, now in its 21st year.
I've been posting weekly updates of a mega-bear market charts (here and here) that include Japan's Nikkei 225. In addition, every few months I update an inflation-adjusted overlay of the Nikkei 225 and S&P 500 bubbles.
The table below documents the advances and declines and the elapsed time for each cycle.