The huge drop down is obviously the earthquake. Since the, the market has been trading sideways. We have a triangle top forming, but the lower line of the consolidation pattern is still emerging -- and could go below support at the 9.8 area as well.
The point of this chart is to remind us that Japan is still digging out from an earthquake. This process will take some time. Additionally, Japan's economy wasn't doing that well to begin with.
