CBQ, BRIC iShares index fund.

Then  (28 of Oct. 2011) and now;

cbq oldcbq july 2012

These are the BRICs, Brazil, Russia, India and China. The prediction was for a peak in wave 2 at about $29, then straight down again. So far so good, we are only in the minor wave 4 of something; we may yet make it to about $20 for this round. Then we should go up in wave 2 of 1, only to drop like a rock after that.

CBQ, the Claymore BRIC ETF and TSX

CBQ Claymore Bric

CBQ, the Claymore BRIC (Brasil, Russia, India and China) is illustrative of what is happening all over the place. Again from the recent Oct 4 lows , the unit price of this ETF has shot up in a very, very, clear a-b-c rebound. This is a corrective pattern meaning that the stock/unit will trade below the low from where it started. In this case a very similar a-b-c precedes this one, starting in early August. To have two such similar patterns usually means that they are of a different degree which is indeed the case in both the blue and brown interpretations. Both should go down soon.

By the way, the TSX is uncanny in it’s similarity. Apart from proportionately smaller moves , the moves are directionally alike. See below;

TSX oct 28 2011

You can click on these charts and move them around if that is easier. Perhaps BRIC should be renamed as BRICC. This chart suggests a high close to 12750 , or just below that.