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techcharter

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techcharter

Re: None

Sunday, 08/08/2010 9:40:38 PM

Sunday, August 08, 2010 9:40:38 PM

Post# of 51804
Global Market Divergences

The US and UK have lagged the DAX and Bombay exchange to new March '09 rally highs this week.


The BSE and DAX can be counted as corrective zigzags. The zag counts as an ending diagonal that may have finished this week. Look for heavy selling the next couple months.

http://stockcharts.com/h-sc/ui?s=$BSE&p=D&yr=1&mn=6&dy=0&id=p56632151837

The DAX
http://stockcharts.com/h-sc/ui?s=$DAX&p=D&yr=1&mn=6&dy=0&id=p92892749385


The US and UK markets have are in a wave 2 flat. The flat may have completed last week. The flat wave c is clearly ending diagonal in the FTSE chart.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p79735436807

http://stockcharts.com/h-sc/ui?s=$FTSE&p=D&yr=0&mn=6&dy=0&id=p07963353688

Since the US and UK markets are leading the downside globally, there is less risk playing to the downside.
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