The Mumbai benchmarks have soared 3.7% in the last two days. The question is where we go from here.
The Mumbai market is now back where it was when it was testing its mid-March lows. Might this be the time to jump back into India?
The Indian stock market has gone from last year’s record peaks to become the worst performer in the BRIC group. Is this a buying opportunity or a broken economy?
We have noted the fear of technical sell signals based on fund flows. These will likely continue as emerging markets flows start looking dangerously buoyant.
Bold call here. The thesis is that things feel a lot like mid-2010 when both of these markets underperformed.
Make no mistake: the dollar and the dollar index have been in technical “death cross” territory since September.