Bovespa, Sensex & Cable

by Ashraf Laidi
Oct 23, 2009 12:59 | 3 Comments

Bovespa, Sensex & Cable - Sensex Bovespa Oct 22 (Chart 1)

Sterlings failure to breach above the $1.6730 right shoulder in the H&S formation following the unexpected decline in Q3 GDP should help call up $1.63 and $1.6210. GBP could especially lose more ground in the event of upcoming risk aversion as equities near key technical levels. While the S&P500 is nearing the 50% retracement of the decline from its all time high to March lows; emerging market indices such as Brazils Bovespa and Indias Sensex are struggling (see charts below). WATCH A POTENTIAL DOJI CANDLE in the WEEKLY BOVESPA and ENGULFING BEARISH CANDLE in the SENSEX. Any prolonged retreat in these indices would cause a drying up of liquidity from emerging markets to the benefit of the USD (at expense of GBP).


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Comments (Showing latest 3 of 3) View All Comments
lucknow, India
Posts: 3
15 years ago
Nov 3, 2009 16:43
Yeah, thanks sir. Long unwinding has indeed been quite fast here in India. Your British Pound/ US dollar call earlier today for 1.6270 target was also fabulous, and i nailed profit on that one as well. I think your twitter service is the best service for anyone to actively follow the market, and above all its free, what luck !! I use the same nick at twitter and your dedicated follower. Thanks for all your efforts, we learn so much from ya.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 3, 2009 13:25
tanzfx, congrats ! theyre both down more than 8%. worst 2 weeks of the year.

lucknow, India
Posts: 3
15 years ago
Nov 3, 2009 13:11
This sensex chart posted by mister ashraf on october 23rd has yielded me about a 1000 points on the short side, and a correct and timely exit on the previous longs. Thanks a ton. Great call.