First, there was the eerie, impenetrable double top. On April 18, 2002, the KOSPI closed at 937.61 - a new high not seen since the bubble burst two years earlier - and then retreated. Almost exactly two years later, on April 23, 2004, the KOSPI peaked again at 936.06 - just one point away from the 2002 peak - and retreated once more. The index couldn't possibly break through this cement wall of resistance. But on February 7 of this year, it did.
Then, there was the 1,000 resistance level, invariably preceded by the catch-phrase psychologically significant. On February 28, this hurdle was also cleared, at least for a few days....
