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Inter Market Analysis

Inter market analysis is a series of articles studying related segments of the market to identify lead lags between trends in each segment. This can often forewarn you of impending changes in trend and allow for planning of required action based on it. For example midcaps v/s large caps, currencies v/s commodities and US markets v/s European markets and so on. In a global environment inter-market relationships are not restricted to a country but between countries and their respective asset classes as well.

BSE Metals index

Metals - The BSE Metal index can be marked as 5 waves up so do not be surprised if a near term correction shows up. A 38% to 50% retracement is normal up to 10700 or 10500. However this should be the first impulse wave of a larger trend up for the sector. So will need to watch out for a re-entry point.

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US 10 year T Notes

US 10 year notes are in the early stages of a recovery rally.

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BSE Metals index

The metals index fell in 5 waves recently but it maybe only wave c of 4 down. As shown the wave IV of previous degre at 9487 has held and not broken, and till it does this is a good support for a 4th wave correction. Holding it wave 5 may start and head to 5=1 near 12500.

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