TSE Jan10 2010


TSE Jan 10 2010

DAX Jan 10 2010

Shanghai DJ Index Jan10 2010

Back in business. Here is the TSE and the DAX with the Shanghai index frown in for good measure.  All have done, more or less, the same thing, that is drop 50% or more initially and then regain 50 to 62% the other way on the retracement. Notice also that in the last 3 or 4 months none have added much value, at least not compared to the initial spurt: the momentum is obviously dying.  This , ultimate target for the TSE is in this blog going back to the beginning of the year, so even though I may have suggested getting out or even going short earlier it does not follow that the analysis is wrong; it only means that the market- for whatever reason , is pushing the envelope to the extreme.

A slightly higher level remains a possibility, both in the TSE , and even more so, in the DAX, but hoping for that may just not be worth it.

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