Sensex : is bull dead ?!

Seeing carnage since nov 2010 in Indian stock markets , I wonder if Indian stocks' Bull is alive or dead. These days we are surrounded by flood of bad news (...actually since 2010 ) viz....PIIIGS defaults, Dubai crisis, Common wealth scam, 2g, 3g scams, Arab world unrest ( ...revolt actually), crude catching fire , hoopla of Emerging World story is done for the time, and above all US economy improving ( note: US deficit is more than  1500 billion dollars plus huge liabilities of health care, bonds etc etc ).....bla...bla...bla........

Now come to Sensex : many technical stats are suggesting that market is still not in a bear market but it could fall into a bear market ( bear attack is different from bear market, we are suffering from bear attack...) if this bear attack is not countered ( with force & will  ) by bulls . Although this bear attack has a force to bring it down lower from today's low , but 17400-17000 must hold for the time being...other wise much force of selling may emerge.
All sectors like Banking, Auto, consumer related ( soft or hard ) , IT etc..all appearing weak only. Grave danger of a multi year bear market is getting closer day by day given the weakness in key indicators .....But it may get better before getting worse...

Lets hope that Bear market is not coming soon  to haunt us !

Hopes on 28th  budget and Arab world crisis may get resolved soon  .

24.2.2011