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Wednesday, February 9, 2011
Here is an update of the BSE, the Sen-sex of India. this chart has been in my public chart list for over 18 months with this same exact scenario on the count. BSE is close to reaching the 38% retrace mark. For comparison, this would be like the SPX being down 300+ points from November's high, or SPX 1015.
If anybody out there has Ben's E-mail, please forward this chart. His statement this morning that rates are holding steady just is not true. I would also like to know how rising rates are going to help the declining housing market.
The Dow made another new high this morning, as the Transports continue to lag.
Click here for a live and updated chart!!!
The squiggles on the SPX are still right on track, a slow grind higher with the majority of the time spend in consolidation as we work on the 3-4 combo's toward the top around the 1342 level. 1308.86 remains the line in the sand for this count.