BRIC ETF : Wave B down

. A look at the BRIC ETF (BIK)
. Exchange Traded Fund
. Based on Brazil, Russia, India, China index stocks.
. The BRIC, the biggest growing emerging markets.

. BIK has traced out the Elliot's 5 wave signature.
. And also has traced out a mini 5 wave down.
. Signalling a change in trend.
. Probably Wave B down
. Till end of 2012 and rebound bullishly on Wave C
. If the world doesn't end then .... Ha ha...

. Additional notes : BRICS has Increased Interest Rates !
. Brazil : Increased Interest Rates
. Russia : Increase Interest Rates
. India : Increase Interest Rates
. China : Pending Interest Rates increase
but has increased Banks Capital Reserves Ratio.