Sensex: Party like it’s 1999; Prepare like it’s 1987
With the BSE Sensex-30 market index crossing 14k intraday, and the NSE advance-decline line turning up (via The Indian Market Monitor), there is fresh hope in the air:
On the other extreme, here is Dan Basch comparing the Sensex to the Dow: Bombay 30 Emulates DJIA Pre-Crash 1987:
. . . observe the fate of the DJIA when the Rising Wedge which formed over a period of months and its striking similarity to the way in which Bombay has evolved as denoted by the “W” formations as visual reference points. I believe this is a template linking the past of the DJIA Crash of 1987 with another in the coming period on today’s Bombay 30 . . .
In the eye of the beholder!
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