The Indian Market Broke Before China

Monday, March 05, 2007 | 10:28 AM

As a follow up to the 10 Myths column, consider this chart, send in by an astute reader, of Bombay Stock Market.

Note that Indian Markets have been softening since early February, giving up over 1,000 points from their Feb peak. They finally broke trend days before the debacle hit in China.

You can draw the lines in many different ways, but they all lead to a major break the primary trend: 


We can draw quite a few conclusions about this -- including something trendy about the interconnectedness of global markets.


But this is further fuel to my argument against "all of this was started by China." Something was clearly occuring in the Emerging Markets prior to the plunge in China.   

Monday, March 05, 2007 | 10:28 AM | Permalink | Comments (13) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Too soon to call this one. Last summer's decline was sharper and deeper than this one - atleast so far. And proved to be a bear trap. The macro picture, particularly globally, is worse this time around, but I'd still hold off on any pronouncements.

Posted by: Bluzer | Mar 5, 2007 10:57:35 AM

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