Back-to-back days of 1.5%+ gains pushed India's stock market to a new 52-week high today. Ā As shown in the first chart below, the chart pattern couldn't look any better for the India's Sensex.
At the same time, China, India's BRIC brother, made a new 52-week low today. Ā As shown below, the chart pattern can't get any worse for China's Shanghai Composite.
The chart below shows just how long China's stock market has been struggling. Ā Back in late 2008, both China and India made their financial crisis lows at the same time. Ā Both indices bounced 100%+ very quickly off of the lows, but the two countries have seen their stock markets take very different paths since late 2009. Ā India has hung in there and is currently up 125% off of its lows, while China is now up just 13.95% from its low made back in October 2008. Ā How much further will China fall before it finally sees some kind of sustained rally?
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