The Dow Industrial Index was down moderately -66%. But the broader marker was much weaker. (See grid above.) The Dow Transport Index was also weak -0.84%.Europe was weak with a wide spread in the losses. London -0.24%, Germany -0.65%, France -1%.
Emerging markets. Yesterday Shanghai was up solidly +1.35%. Bombay -1.43%. Brazil -1.21%. Saudi Arabia +3.25% - and that was its third day up in a row. If you can work out a trend from that - you're better I am. :) Apparently the Saudis aren't worried about the call for protests on Friday, 11 March.
I've been watching the American Bank Index carefully. Support lay at 52. Last night the index fell marginally below that to finish at 51.86. The chart is in a small downsloping wedge. That's usually bullish. A break lower out of the wedge would, however, be a very bearish development.
This morning I tried to log into Al Jazeera, the English language Arab news agency operating out of Doha, and ... I couldn't log in. Just a glitch - or am I getting paranoid?
Good luck
Red
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