Wednesday, December 10, 2008

New York up modestly, Mumbai gains 5%

Wall St managed to rally near the close today and closed up about 1%. The Dow ended at 8761 while the S&P finished at 899. Mumbai resumed trading after the holiday closure and added 5% as the Nifty closed at 2928 and the Sensex at 9654.

It may be that the bulk of the forecast decline to 8000 or below will have to wait until early next week. Friday still looks very bearish, but tomorrow is more ambiguous.