Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Haim R. Branisteanu who wrote (94973)	3/6/2009 6:30:28 AM
From: westpacific	3 Recommendations Read Replies (4) of 116555

The Banking Index holds all the clues to where we are headed... A bold prediction. BKX, historic chart low was 25...we are now near 18. Based off this chart, and INDU trading two things are going to happen. Forget a market rally unless we see some sort of recovery here. Banking fell 11.81% yesterday, JPM (think derivatives) broke a triple bottom and is now in freefall. We cannot have a market till this banking mess is resolved and markets will catch up to price this all in! BKX and INDU target lows... BKX index trades under 10 - INDU below 1500 possible BKX index trades 10 to 20 - INDU 2000 to 2365 BKX index trades 25 - INDU 3200 BKX index trades 32 - INDU 4000 BKX can rally and get above 32, INDU target of course rises with it...for the final low. INDU is doomed unless this chart stabalizes soon! And could crash (1000 point a day crashes) to play catch up. Watch this chart and forget watching the INDU... Have not seen this discussed anywhere, it stands out cold if you study the chart right! Your getting it first from Mish and crowd... West

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