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ELliott Wave Analysis of Dubai Index 18 Jan 2010
Following an extended 3rd wave sell off, the index had recovered by 50% of that decline. However, I feel that this recovery was only part of a complex 4th wave. SO be patient while this 4th wave unfolds over an extended period of time. We will get the 5th wave much later, at which time [...]
Elliott Wave Analysis of Dubai and Kuwait Stock Index
Here are the charts of Dubai Financial Market Index as well as Kuwait Stock Market Index. I prepared the analysis of Dubai Markets before the news as you can see from the date on top. Both charts are posted here just to illustrate the usefulness of elliott wave analysis of stock markets even if one [...]
Dubai Index
On 15th October, when Dubai was trading at 3427 I warned that we could see 2760 if it started to come off quickly. Today it reached 2343, and a lot of investors are worried.
Dubai’s main index still weak
Back in January 2008, Dubai’s main stock index, DFMGI, was at 6320. Last week it traded at a low of 2991, a loss of over 50%. Investors have been badly hit. After the regulators announced several concessions and guarantees, we saw a smart rebound that lasted exactly two days.
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