Sensex, breaking the line

Sensex - The good old major index did two things as we start 2016, first it closed negative after 3 years for the Calendar year 2015. and second it has now broken the rising trendline from the 2003 bottom. This trendline held out in 2008 and in 2013 so this break is significant in reflecting that we are in a bear market or larger degree. A break does not mean that the market goes up or down tomorrow but does have implications for the next 12-18 months that should be kept in mind.