Weakness In India (INP)
Above is a daily chart of INP which is the ETF for the India Index and in the lower panel is the S&P500. On this last move up to new highs in the stock market, the India ETF did not make a new high creating what is known as a bearish divergence. This in my opinion is bearish for INP and suggests that we can expect lower prices in the weeks to come.
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3 comments:
Kevin,
Welcome back.
I heve been trying to short EEM since end of December. The beginnings were rocky but it is working now.
Note sure of target.
Any insights?
Thanks!
Jack
One more question, can this be a harbinger of a correction for SPY?
I tend to consider emerging markets as leading US markets.
Jack
Dear Kevin,
I think the stock market world over is in the grip of strong and long bear grip. The bear phase, I think will last for one or may be for more longer period. The stock specific approach, and bottom fishers would be benifited in this scenario. I think Sensex would definitely kiss the 15800 and if it break it will fall down to under 10000.
What is your opinion ?
MANSOOR NATHANI
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