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 there will be clear signs of a bottom developing. That is the time to buy the blue chip stocks included in the Dubai index.
Elliott wave analysis of Dubai Financial Markets INdex 18 January 2010
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