Many of you long-time investors may remember that there was a time when the ISX was dependent on the action of the hotels (probably 4 years ago). Over time, some of the industry and service companies had a run up in price, then the banks became a leading indicator of market action. Over the last year, the ISX has been searching for a bottom and I think the price action of the hotels may be sending a signal. Most have either stabilized or increased in value over the last couple of weeks. This may be a good sign that the market overall has found a bottom and is ready to continue with the next impulse wave up. This will be a third wave and could see some significant price increase. See some of my previous posts about Elliott Wave analysis. I do view the ISX through rose colored glasses though. We will see.
You can see these trends on my website if you want to see the action yourself. There is a sticky at the top of this forum that directs to my website, www.IraqStockX.com.