Wednesday, June 25, 2008

Indian Quickie

Here is a quick excerpt from yesterdays' Quick Takes Pro, updated with overnight data. It is the Indian Sensex (stock market) index for the past three years.

My comment?

"Global growth engine my derriere. This is a weekly chart and the index is at a new 52-week low, below major support and long gone from a bullish trend."


patrick neid said...

That chart doesn't do the Sensex any justice! To really enjoy this bubble a standard linear chart going back ten years shows the true grandeur. From 3000ish to 21,000 in five years.

Michael Kahn said...

Just trying to be fair and balanced with the log scaled chart. You know, like my new parent New Corp.

(For those living under a rock, News Corp, owner of Fox News, bought Dow Jones, owner of Barron's Online.)