dow jones and sensex at big consolidation zone, say nine months to one year.
This current rally is only one more bear mkt rally.
out of ten economy news 6 reamin with positive tick..
The measure is based on 10 components,six of which increased in February:
interest rate spread;
index of supplier deliveries;
building permits;
real money supply;
manufacturers' new orders for consumer goods and materials;
and manufacturers' new orders for non defense capital goods.
Some of those six indicators enjoyed surprising upticks in recent economic data.
Housing starts unexpectedly surged 22% February, after falling for eight months. It was the first time housing starts increased since June.
The remaining four components declined:
average weekly initial claims for unemployment insurance;
stock prices;
index of consumer expectations,
and average weekly manufacturing hours.
The components in decline aren't surprising after a slew of negative reports. The number of people filing initial claims for unemployment benefits fell slightly last week, but continuing claims hit a fresh record high of more than 5.47 million. The unemployment rate is up to 8.1%, the highest level in 25 years.
Stock prices rallied last week, but the Dow Jones industrial average is still down almost 50% from its peak in October 2007.Consumer confidence fell to a three-month low in February.
This good news support from US economics front will provide good support to dow jones to form bottom at 6400 lvl.this 6400 is most likely the final bottom for dow,similarly our mkt will also form bottom around 7200 to 7500 sensex zone But majority time, movement zone will in between 2500 to 3200 in terms of nifty.those who are waiting for 3200 above move will find it any way for next sixth months time atleast.With lots of whipsaws, with common tech tools, this time will prove most challanging time for traders.
see small wave count of dow and sensex.
also see the sensex flat running which is earlier posted in my this blog at 9th feb.now this possibility comes true.follow this count now.
