Market Speculator: It’s a Small World
The Market Speculator blog has a recent post - It’s a Small World - ETF Style - that shows how most country ETFs look similar - “we see a death defying drop followed by a low volume pullback into resistance that works off the oversold conditions that occurred last week”. Since India wasn’t in there, here are the corresponding charts for the BSE Sensex 30 index & the iPath MSCI India ETN (INP):
Yup, they too look like most country ETFs & the S&P. Globalization, indeed!
More on this topic
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"800 pound gorilla of India’s roaring economy"
(Stock Gumshoe, 3/16/07)
WSJ say double leverage ETFs are pushing the market
(Investing Thoughts, 12/16/08)
Thinking About ETFs
(Confused Capitalist, 3/5/07)
ProShares surprises investors today
(Trade Radar, 12/23/08)
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March 13th, 2007 at 9:46 am
On charts, most of the leaders are sitting dangerous.Most are below 200 Day average and struggling to come up with low volumes. No sign of broad participation. Fake rallies. Atleast technically mkt is heading for a severe correction.